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March 29, 2023

Rompetrol Rafinare to increase capital by RON 450 M, in order to partly pay its debt

Rompetrol Rafinare plans to increase its capital by RON 450 M, through a cash input by shareholders, in order to pay a part of its debt towards the state, Mediafax reports. Company shareholders will debate, on June 30, “The capital increase through a new contribution in cash, up to RON 450 M, specifically aimed at the company making a partial payment and redeeming an equivalent number of its bonds,” reads the announcement that calls the General Meeting of Shareholders, sent by Rompetrol Rafinare to the Bucharest Stock Exchange (BVB) yesterday. The operation will consist into issuing 4.5 billion shares at the face value of 0.1 RON/unit.

In October 2003, the Government issued an emergency ordinance on turning Rompetrol’s debts – as they were on September 30, 2003 – into 7-year bonds worth a total USD 603 M, interests and penalties included.

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