“The Program may include one or more tranches/series of bonds (the “Issuances” and each of them “Issue”), which may be green bonds or conventional bonds, or a mix thereof, denominated in RON and/or in other currencies, and may be issued on the Romanian or international capital markets based on a flexible structure, with a fixed or variable interest rate. The bonds will be registered, non-convertible, unsecured, in dematerialized form by registration in an account, will be part of the same class of securities, may be issued with a maximum maturity of up to 10 years. The Bonds will be sold through a Sale Offering addressed to investors on the capital market in Romania and/or international through one or more financial investment services companies, credit institutions or intermediary syndicates, or entities of a similar nature authorized in EU member states or non-EU states to provide investment services and activities (“Intermediary”) in accordance with applicable local, European, or international capital market legislation and will be admitted to trading on a regulated market,” the report reads.
The Board of Directors also seeks shareholder approval to subsequently establish the details of each issuance, including the value, currency, maturity, interest rate and the calendar of the offerings. The final terms will be set depending on market conditions and on the result of investors’ demand prospecting process.
Electrica is almost 49.8%-owned by the Romanian State, through the energy ministry, and the remaining stake of roughly 46% is distributed among institutional investors and other legal entities.
The company has a market capitalization of approximately RON9.8 billion at the Bucharest Stock Exchange, the equivalent of nearly RON2 billion. Electrica shares have traded almost 10% higher so far in 2026 and over 110% higher in the last 12 months.