Romgaz has completed a bond issuance under its Euro Medium Term Notes program

Romanian state-owned gas producer SNGN Romgaz S.A. has concluded the subscription process for its second bond issuance under its Euro Medium Term Notes (EMTN) program. The US$540 million bond issuance has a six-year maturity and carries a coupon of 4.625% per annum. The transaction attracted strong demand from institutional investors and was oversubscribed by approximately eight times.

Romgaz is the largest natural gas producer and main supplier in Romania, covering approximately 40% of the country’s gas consumption. Founded in 1909 and headquartered in Mediaș, Romania, the company operates across the oil and gas value chain, including exploration and production of natural gas and condensate; underground gas storage; electricity generation through the Iernut power plant; and specialized well operations and maintenance. Romgaz is majority-owned by the Romanian State, with an approximate 70% stake, and is listed on the Bucharest Stock Exchange. The company also holds offshore assets in the Black Sea, including a 50% interest in the Neptun Deep project. Through its focus on technological advancement and financial discipline, Romgaz has established itself as one of Romania’s leading energy companies.

Oaklins’ team in Romania acted as one of the lead arrangers and bookrunners in Romgaz’s recent US$540 million Eurobond issuance under its EMTN program. The team supported the structuring and arrangement of the transaction alongside international banks, including Citi, Erste Group, JP Morgan, Raiffeisen Bank International and UniCredit; carried out bookrunning activities, managing investor demand and pricing during the bookbuilding process; and participated in price stabilization activities as part of a consortium during the post-issuance period. This mandate positioned Oaklins’ team in Romania as a key local partner within the international syndicate, contributing strong investor participation and the successful execution of the bond offering, which supported the financing of the Neptun Deep offshore gas project.