Romanian state-owned natgas producer Romgaz lists EUR 500 mln bonds on Bucharest Stock Exchange
<p>Natural gas producer Romgaz (SNG), a company in which the majority stakeholder is the Romanian state, listed on Tuesday, November 19, its first corporate bonds amounting to EUR 500 million on the Bucharest Stock Exchange.</p>
<p>The bonds, also listed on the Luxembourg Stock Exchange since the beginning of October 2024, are part of a tranche of international 5-year bonds under the EMTN (Euro Medium Term Notes) Program, which will enable the company to issue bonds worth EUR 1.5 billion in total.</p>
<p>The subscription of inaugural bonds under the EMTN Program took place on 30 September 2024. A number of 500,000 bonds have been issued with a nominal value of EUR 1,000, a fixed interest rate of 4.75% and maturity in 2029. </p>
<p>The funds raised will be used to finance the Neptun Deep project and transition to a low-carbon economy.</p>
<p>”Romgaz has been listed with the Bucharest Stock Exchange for over 10 years and, during this time, we have shown our commitment to transparency, rigorous corporate governance and sustainable performance. This listing is an important step towards reaching our investment objectives of sustainable growth and maximization of value for shareholders and for the entire Romanian economy,” stated Răzvan Popescu, CEO of the company. </p>
<p>Romania was, at the end of the second quarter of 2024, the largest producer of natural gas in the European Union. </p>
<p>”Romgaz is one of the 3 issuers thanks to whom FTSE Russell decided to promote the Romanian capital market to the position of Emerging Market in 2019. [...] We are pleased to have the opportunity of partnering with Romgaz for the company’s development prospects through this listing of bonds on the BVB, the first in the company’s history, which will fund a nationally important project, Neptun Deep,” stated Adrian Tănase, CEO of the Bucharest Stock Exchange. </p>
<p>Romgaz was listed on the BVB Regulated Market on November 12, 2013, after it had successfully implemented a cumulated initial secondary public offering of RON 1.7 billion on the local exchange and the London Stock Exchange. For Romania, the company listing was one of the highest offers for sale of shares obtained by the Romanian State through BVB. Romgaz's largest shareholder is the Ministry of Energy, with 70% of shares.</p>
<p>According to the latest financial results covering the first 9 months of the year, Romgaz's consolidated net profit was RON 2.27 billion, 4.84% above the rate in the similar period of the previous year. Turnover stood at RON 5.6 billion, 17% lower YoY. Production of natural gas, however, was up by 5%. Romgaz also had a capitalization of RON 21,2 billion. </p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: Romgaz)</em></p>