The funds raised at the beginning of this year through private placement will be used for the development and acquisition of renewable energy production assets.
“The stock market is the right place for visionary teams and companies with growth plans, for which they need financial resources. The success of this bond issue and of the other issues that began trading in the last two and a half year shows the openness and capacity of the local capital market to support Romanian businesses, in different fields,” said Radu Hanga, President of the Bucharest Stock Exchange.
Restart Energy is an independent electricity and natural gas supplier, with 100% Romanian capital, established in 2015 in Timisoara. The company has operations in Romania and Serbia and, starting with this year, aims to develop in several European markets, including Germany and Spain.
“For Restart Energy One, the investors’ trust in subscribing to our first bond issue is honorable and confirms the healthy direction in which the company is heading. Today, by listing these bonds, we conclude the first chapter of our entry into the capital market. The company’s future plans include a much stronger presence on Bucharest Stock Exchange, which we see as a strong partner, which will support us in executing our business strategy, both nationally and regionally,” said Armand Domuta, CEO of Restart Energy One.
The bond issue has a total value of RON16.36 million and consists of 163,612 bonds with a nominal value of RON100/bond, 5-year maturity starting with February 9, 2021, and an interest rate of 9% a year, payable half-annually.
The bonds are convertible starting with 2024 and can be bought back early starting the third year of the bond issue.
The company carried out a private placement in February 2021 with the support of Goldring, the Authorized Advisor who also assisted the listing of the bond issue on the capital market.
The company attracted 10,000 new clients, mostly household consumers, in the first quarter of this year as the local electricity market was liberalized.
Restart Energy targets a turnover of RON220 million in 2021, RON100 million higher than in 2020. It estimates a net profit of RON24.2 million this year, from RON13 million in 2020.