The corporate bonds in French utility GDF Suez Energy Romania have stared trading on the Bucharest Stock Exchange (BSE) on Tuesday, according to Agerpres newswire.
GDF Suez raised RON 250 million (EUR 55 million) from the oversubscribed bond auction. The bond issue was carried out on the BSE in late October. It targeted qualified investors such as pension and investment funds.
The bonds, which have a 5-year maturity, had an annual fixed interest of 7.4 percent. BRD Groupe Societe Generale acted as intermediary for the offer.
In Romania GDF Suez supplies natural gas and electricity, handles gas distribution and power production. The utility has a distribution network of 17,000 kilometers and employs around 4,000 people.