Ljubljana, 29 June (STA) - Energy group Gen-I has successfully concluded a simultaneous issue of a bond and a commercial paper. The issue of the bond secured the company EUR 20m, Gen-I said on the website of the Ljubljana Stock Exchange on Friday.
Both issues were "excellently received by investors" and the company received binding bids worth twice as much as the company planned to borrow on the capital market, Gen-I said in a press release.
According to the NLB bank, which organised the issue of bonds, bonds worth EUR 20m were issued with a 45-month maturity and the annual interest rate of 2.4%.
Gen-I did not reveal the value of the commercial paper issue. It is known only that it has a 360-day maturity and the annual interest rate of 1.1%.
The purpose of the issue of the bond and commercial paper is to finance the short-term and long-term working capital and to make financial sources more dispersed than in case of a bank loan.
Gen-I believes one of the reasons for such high interest of investors is that Gen-I's bonds will be listed on the Ljubljana Stock Exchange for the first time.