Electrica has completed a US$580 million green bond issuance

Electrica S.A. has launched Romania’s largest corporate green bond issuance, raising US$580 million. The senior unsecured bonds, denominated in euros, have a five-year maturity and carry a fixed annual coupon of 4.566%. The issuance was rated BBB- by Fitch, attracting investor demand exceeding the offer by over 11.5 times, marking a record for a Romanian corporate bond issuance. The bonds were initially listed on the Luxembourg Stock Exchange and subsequently on the Bucharest Stock Exchange.

Electrica is a Romanian state-owned energy company founded in 1898 and headquartered in Bucharest. It operates primarily in the distribution and supply of electricity and natural gas, serving over 3.9 million users across North Transylvania, South Transylvania and North Muntenia. The company’s core activities include electricity and gas supply, purchasing and delivering energy to end consumers; electricity distribution, managing and developing Romania’s power distribution networks; energy services, including maintenance, repairs and network construction for third parties; and renewable energy production, supporting Romania’s transition to green energy. Electrica is one of the largest players in Romania’s regulated utilities sector, employing approximately 7,800 people. It is listed on the Bucharest Stock Exchange and also trades internationally. The company actively invests in green energy projects, including storage solutions and renewable generation, in line with EU sustainability objectives.

Oaklins’ team in Romania acted as joint bookrunner in Electrica’s US$580 million green bond issuance, supporting the structuring, pricing and placement of the bonds with investors. Working alongside leading international banks, the team contributed to the syndication process and helped ensure strong demand and the successful execution of one of Romania’s largest corporate green bond transactions.