The information was published on page 53 of Hidroelectrica’s 2022 financial report and the investment went to euro-denominated bonds issued by CEC Bank, as ZF found.
“In 2022, the company bought corporate bonds due on December 30, 2025. The balance in December 2022 includes RON351,265,400 principal and RON72,178 coupon. The annual yield of the corporate bonds is 7.5%,” Hidroelectrica’s report published on the corporate website reads.
The report does not say who the issuer of the bonds is. In February 2023, however, CEC Bank took two bond issues to the Bucharest Stock Exchange, as part of MREL funding: a RON175 million tranche due on December 30, 2025, with 9% yield and a EUR97 million (RON485 million) tranche due on the same date, with a 7.5% yearly yield.
(English version by Loredana Fratila-Cristescu)