Restart Energy, one of the largest independent suppliers of electricity and natural gas on the local market, successfully concluded a green bond offer conducted between January 20 and February 3, 2021, obtaining financing of 16,361,200 lei, oversubscribed and completed in advance after the first ten days from launch. According to the Offer Document, the offer’s value was 15,000,000 lei, with the possibility of supplementation.
The bond issue marks the company’s entry into the capital market and is the first step in executing its development strategy over the next five years. Through this approach, Restart Energy aimed to obtain at least 3 million euros for investments. The interest will be 9%, the maturity date on 09.02.2026, and the steps for listing on the Bucharest Stock Exchange – SMT will be initiated in the next period. The investment was brokered by the brokerage company GOLDRING and carried out through the stock exchange system (BVB).
The Restart Energy strategy aims to expand the number of customers, thus the market share, the integration of renewable production assets, regional expansion, and achieving the target of providing energy 100% from renewable sources.
The demand for Restart Energy bonds was high, the issuer deciding to supplement the offer and the early closing on February 3, 2021. Thus, the total number of bonds subscribed was 163,612, while the total number of sole subscribers was 105. The average value of the investment is 155,820 lei.Read more aboutRestart Energy Innovative Technologies AG is launching the first sustainable STO on the Swiss Blockchain Platform DAURA read more
“In the first month of the year, we already have marked two notable stages in our strategy: the partnership in a joint venture with the American company Interlink Capital Strategies in Washington, DC (USA) and this green bond issue that puts us on a clear horizon of execution, to achieve the objectives within the proposed deadline. Together, with our partners from Goldring, we managed to take this significant first step for Restart Energy One quickly. We are impressed by the real interest and the trust received from such a large number of investors. Meanwhile, we have already taken the first steps in the directions assumed in the Offer Document, and, soon, we will make some announcements in this regard “, said Armand Domuța, CEO and founder of Restart Energy.
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“It was a pleasant surprise for us to see the high appetite of investors for green bonds, and we are delighted to have brokered this premiere on the Romanian capital market. Restart Energy brought, for the first time, in Romania, convertible green bonds, an opportunity to enter, in the long run, into an innovative, even tech, business in the emerging green energy growth sector. We are looking forward to seeing the bonds on the stock exchange, the evolution of the issuer in the next period, and, why not, to return to investors with a second round of bonds “, said Virgil Zahan, CEO of SSIF Goldring.
The management of Restart Energy, a company founded in 2015 in Timișoara, aims to significantly increase turnover by growing the number of customers and adding new business lines – such as the sale of equipment. Thus, Restart Energy relies on 220 million lei revenues in 2021, more by 100 million lei (+ 83%) compared to last year. The company’s management plans to reach a net profit of 24.2 million lei at the end of 2021, compared to approximately 13 million lei (estimated) last year.
