ENEA issues bonds of PLN 1 billion

Power utility ENEA issued five-year maturity bearer bonds worth PLN 1 billion under a bond issuance program of up to PLN 5 billion, the company announced. “There were as many as 21 investors who placed subscriptions valued at PLN 1 billion. The allocation was as follows: banks (62.07 percent), funds (30.66 percent) and private pension funds and insurers (7.27 percent),” the press release informed. The nominal value of one bond amounted to PLN 100,000. There is a floating interest rate on the bonds and it's determined annually based on the WIBOR 6M rate plus a fixed margin. The Program will finance current operations and investment needs of ENEA, the company informed. The ENEA Capital Group specializes in electricity trading, generation and distribution. It provides electricity to people living in western and north-western Poland, covering as much as 20 percent of the country. The company has been listed on the WSE since 2008.