Restart Energy, a Romanian company involved in the supply of electricity and natural gas, has raised RON 16.36 million (some EUR 3.35 million) through a green bond offer conducted between January 20 and February 3, 2021.
The bond issue, which marks the company’s entry on the capital market, was oversubscribed and closed early, only ten days after launch. The offer’s value was RON 15 million (about EUR 3 million), with the possibility of supplementation.
The bond is the first step in executing its development strategy for the next 5 years. Through this approach. The interest will be 9% and steps will be taken for listing on the Bucharest Stock Exchange. Local brokerage firm Goldring managed the offer.
The company will use the funds for further investments. Their plan is to 100% of energy from renewable sources.
Restart Energy was founded in 2015 in Timisoara and it serves over 30,000 individual customers and approximately 5,000 corporate customers.
Cover picture: Unsplash / Stephen Dawson