“We will consider a new issue, but not before July 1, which is when the energy watchdog ANRE is expected to announce the regulation rules for the next five years,” Transelectrica’s chief Stefan Bucataru told a news conference Thursday.
In 2013, Transelectrica approved an overall budget of up to RON900 million for potential bond issues in 2013-2017, both in lei and in foreign currency.
The company raised RON200 million via the first issue in December at an annual yield of 6.1%. The proceeds will be used to refinance the company’s older loans and replenish its investment funds.
The five-year bonds are traded on the Bucharest Stock Exchange as of today.
Transelectrica is majority-owned by the Finance Ministry, which controls 58.69% of the shares. Other shareholders include investment fund Fondul Proprietatea (FP.RO), with a 13.5% stake, and regional investment fund SIF Oltenia (SIF5.RO), with 6.3% of the shares.
At around 1:30 pm, Transelectrica’s shares traded flat at RON15.3, amid an undecided market. (EUR1=RON4.5275)