BUCĂTARU, TRANSELECTRICA: "We also target the small investors for the next bid bond"

Transelectrica might address the next bid bond to the small investors, according to Ştefan Bucătaru, the president of the directorate.

The statement comes after Transelectrica attracted, in December, 200 million lei (EUR 44,8 million) through a bond issue, at an interest of 6.1% a year, that has been addressed only to the institutional investors. The bond trading on the stock exchange began yesterday.

Ştefan Bucătaru stated: "We chose to address to the institutional investors out of caution. We preferred a quick, safe and controlled process. We plan more bond issues in future and consider addressing to the small investors too". The bond trading on the stock exchange began yesterday.

Mister Bucătaru mentioned that the enterprise will take into consideration a new bond issue, but not earlier than July 1st, when the National Energy Regulatory Authority (ANRE) will establish the regulatory standards for the next five years.

The "Transelectrica" bond issue is part of a 900 million lei ceiling (EUR 201,6 million) for such loans during 2013-2017 in lei and in currency, approved by shareholders on 30 September 2013.

• Sergiu Manea, BCR: "It is important for the potential borrowers to use the capital market"

Sergiu Manea, the Executive VicePresident of BCR, said that, in case a loosening of the monetary policy takes place, but pretty little loosening in supervision (the assets quality assessment), it is important for the potential borrowers to use the capital market to dissociate the possible volatility brought by the regulation.

He added: "It is very important in my opinion that the investment environment to find the way to the Romanian economy. The need for portfolio diversification has been made, unfortunately, by capital export. I think we have companies In Romania that are strong and transparent enough".

The money attracted by Transelectrica through bond issue shall be dedicated to the financing of the investments, to the increase of the interconnection capacity, to the extension and consolidation of the energy transmission network and to the refinancing of some financial obligations of the balance sheet, in order to optimize the financing structure and the decrease of the risks related to the cost fluctuations and the national currency devaluation.

Bucătaru also stated that negotiations with the creditors have been launched in terms of the refinancing of some loans.Transelectrica is the operator of the national energy transmission system and the state controls through the Ministry of Public Finance 58.69% of the company's shares. The Property Fund holds 13.5 % of the shares and SIF Oltenia holds 6.85%.