ERS power utility gets nod to issue bonds on Vienna Stock Exchange

Power utility Elektroprivreda Republike Srpske (ERS) will issue bonds on the Vienna Stock Exchange in January next year. It is the first such decision among state-owned energy companies in the region.

Prime Minister of the Republic of Srpska Radovan Višković confirmed power utility Elektroprivreda Republike Srpska (ERS) would obtain funds by issuing bonds and listing them on the Vienna Stock Exchange.

Višković stressed the government, which owns the majority of ERS, has given its consent and that it is a good test for the company to test the demand for its debt on the international financial market.

ERS lacks money for investments

Višković noted that ERS is financing significant projects from its own funds, such as the one for the EUR 110 million Bistrica hydropower plant.

ERS did not increase the price of electricity for business customers and households, and it needs to secure funds for investments, he underscored.

Minister of Finance of the Republic of Srpska Zora Vidović announced in October that ERS would list bonds worth EUR 140 million on the Vienna Stock Exchange. The funds are intended for the construction of the Dabar and Bistrica hydropower plants, she added.