NEW GREEN BOND ISSUE FOR AUDAX RENOVABLES

Audax Renovables, a company whose business is divided between the marketing of electricity and gas and the generation of renewable 100% electricity, has completed a “green” bond issue of the value of 200 million euros.

The operation is part of the “EUR 400,000,000 Senior Unsecured Notes Program Audax Renovables, SA 2020” program, deposited on 3 July at the MARF (the Mercado Alternativo de Renta Fija) as established by Audax Renovables within the 'exchange operations announced last November 30th as part of the 2017, 2018 and 2019 bond issues for total nominal amounts of 65, 35 respectively and expansion of the latter for a further 35 million euros.

The objective is to restructure the Group's debt, in order to postpone the maturities to December 2027 and reduce its financial costs. Furthermore, the funds obtained will be used to finance or refinance "green" projects, as established by the regulatory framework of reference for the green financing approved last March.

For this issue, the Group had set a maximum amount of around 150 million euros. However, the consistency of the demand coming from national and international investors, made it possible to reach the figure of 200 million euros.

At a national level, then, the issuance of green bonds again saw support of the ICO (Instituto de Crédito Oficial), returned to support Audax Renovables together with other institutional investors.  

In this operation - which at a company level is unprecedented within the MARF - the following acted in the role of Joint Global Coordinators: Beka Finance SV, SA, Goldman Sachs International and Haitong Bank, SA, Spanish branch; while as Co-Leads: Ever Capital, SV, SA and PKF Attest Capital Markets AV, SA Finally, for legal consultancy, Studio Garrigues and for financial consultancy, EY.

It is important to remember how the Group, just a few weeks ago, placed 125 million euros on the international market green bonds convertible into ordinary shares, with demand 2.4 times greater than supply.

Both operations will allow you to realize and expand the objectives that Audax Renovables has set itself, as well as diversifying the investor base - national and international - so as to consolidate its leadership position in the energy market, as the first independent Group in the SME segment, an area capable of leading the Green Transition in Europe .

(17 December 2020)