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Slovenia: GEN-I to list commercial papers on 24 April

GEN-I plans to list 12-month commercial papers worth 50 million euros on the Ljubljana Stock Exchange on 24 April, Slovenian energy company announced. The purpose of the new issue is to renew the existing indebtedness with commercial notes for the needs of financing the issuer’s short-term and permanent working capital and to maintain the diversification of financial resources.

The papers, maturing on 8 April 2024, bear an yield to maturity of 4.738%. The issue arranger is Nova Kreditna Banka Maribor.

Last May, GEN-I sold 12-month commercial papers worth a nominal 60 million euros. The company received binding offers from interested investors in a record-high amount of some 70 million euros, which led to the increase of the originally set borrowing amount of 50 million euros by 10 million euros. Additional 12-month commercial papers worth 15.7 million euros were issued in October.

In 2022, GEN-I Group increased its revenues by 21% to just under 4.1 billion euros, while net profit fell by 58% to 29.5 million euros.

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