Bulgarian Financial Institutions Bought Energo-Pro Bonds for over EUR 15 Million

The Czech energy group "Energo-Pro", which owns the electricity distribution network in Northeastern Bulgaria, has emitted
eurobonds for 250m euros in London, of which Bulgarian financial institutions have bought bonds for over € 15 million. This was announced by the company on Friday.

This is the second issue after the company sold a bond issue of EUR 370 million in November. Proceeds from fundraising will be used for repayment of current credits, and for general corporate purposes, as will improve the effectiveness of group funding.

Bonds mature on May 4, 2024 and have a 4.5% annual return. The issue price of the bonds is 100%. Securities will be listed on the Irish Stock Exchange. Rating agencies S & P and Fitch have rated the bonds BB and BB respectively, in line with the issuer's corporate rating.

The issue has been distributed among more than 70 investors representing both international and Bulgarian financials institutions. 54% of investors are asset managers, 26% are state and private banks, 19% are pension funds and insurance companies. Bonds purchased by Bulgarian financial institutions amount to over EUR 15 million.

The largest share of investors are 25% from the UK, 21% from Austria and Germany, another 14% from France, the remaining 40% are allocated to Western, Central and Eastern Europe and the Commonwealth of Independent States.

The group operates hydroelectric power plants and power distribution grids in Central and Eastern Europe and in the Black Sea and Caucasus. The total installed capacity of its power plants is 854 MW, and the annual output of its electricity exceeds 2.5 TWh. Serves over 2.4 million customers.