Republika Srpska: Power utility ERS gets 5MEUR from bonds sale

, SEE Energy News

The Government of Republika Srpska paid the first part (one quarter) of principal in the amount of 5 MEUR to “RS Electric Power Industry” (ERS), with interest, calculated on the basis of emissions of long-term bonds of Republika Srpska.

– The bonds were purchased on April 9th, 2014th, with the obligation of the Government to pay the principal in four equal annual annuities, with interest calculated on the principal outstanding and payable annually in conjunction with the corresponding part of the principal – according to a statement from ERS.

Total investment-purchase amounted to 20 MEUR of long-term bonds, and Hydropower plants (HPPs) on the Drina12,5 MEUR, HPP on the Trebisnjica 5 MEUR, 2,5 MEUR HPP on the Vrbas.

In ERS note that upon the expiry of the one-year period, the Government of Republika Srpska respected the obligation and the conditions under which the bonds were purchased and a quarter of the registered amount with interest is paid to the transaction account of subsidiaries of the “Electric Power Industry of Republika Srpska” on April 16th, 2015th.

From ERS recall that, based on the decision of the Government of Republika Srpska, it was published a public invitation for subscription and payment of the bond issue by public offer to all domestic and foreign individuals and legal entities.

In the statement said that three hydropower plants from the ERS system responded to the public call, with a previous decision of the Supervisory Boards of these subsidiaries of investment-purchase of bonds of Republika Srpska and given approval of the Assembly of the parent company.