BUCHAREST - Romanian state-controlled natural gas producer S.N.G.N. Romgaz S.A. has announced the opening of three new term deposits with Exim Banca Romaneasca S.A., with negotiated interest rates on December 20, 2024. The deposits, which do not have an auto-renewal option, total 256 million Romanian lei (RON) and have maturity dates ranging from February 3 to February 17, 2025, with interest rates between 6.50% and 6.60%.
According to the company's press release, the transactions with Exim Banca Romaneasca S.A. were in compliance with Article 108 of Law 24/2017 on Issuers of Financial Instruments and Market Operations. Romgaz disclosed the details of these transactions, which are part of its financial strategy, and noted that the deposits exceed the materiality threshold of 5% of the net asset value and 10% of the net turnover related to the 2023 financial year.
The largest of the new deposits, amounting to RON 156,000,000.00, will mature on February 17, 2025, and carries an interest rate of 6.60%. The other two deposits, each valued at RON 50,000,000.00, will mature on February 3 and February 10, 2025, with interest rates of 6.50% and 6.60%, respectively.
Romgaz has a history of engaging in similar financial activities with Exim Banca Romaneasca S.A., with several deposits maturing before the date of the latest transaction. The company also provided a report on deposits that were opened with the bank as of November 18, 2024, which included amounts ranging from RON 50,000,000.00 to RON 200,000,000.00 with varying interest rates and maturity dates in January 2025.
The company's shares are traded on the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE). This information is based on a press release statement provided by Romgaz, and it is intended to keep investors informed about the company's latest financial maneuvers.
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