Slovenia: GEN-I sold 30 million euros worth of 12-month commercial papers

, SEE Energy News

Slovenian energy trader GEN-I has sold 30 million euros worth of 12-month commercial papers at an annual interest rate of 0.85 %.

The statement from the company said that the proceeds from the new debt issue will go to finance the working capital and diversify the company’s short-term financing sources. Bids submitted by interested investors for the 12-month securities totaled 60 million euros. The bonds will be listed for trading on the Ljubljana stock exchange.

GEN-I last sold 25 million euros worth of 12-month bonds in July 2020 at an annual interest rate of 1.2 %. GEN Group’s revenues in 2020 amounted to 2.2 billion euros, while its net profit reached 64.2 million euros, which is 33 % higher compared to the previous year.