€125M PLACEMENT IN CONVERTIBLE "GREEN" BONDS CLOSED

Audax Renovables, a company whose business is divided between the marketing of electricity and gas and the generation of renewable 100% electricity, has completed the issue of senior unsecured "green" bonds for an amount of 125 million euros, possibly convertible into shares ordinary.

The operation attracted strong interest among international investors and demand 2.4 times greater than supply forced the company to use a distribution mechanism.

The term of this issue has been set at the end of November 2025, with an annual interest rate of 2.75%. As mentioned, the bonds are convertible into ordinary shares of Audax Renovables at any time and at the discretion of the company starting from the third year, provided that the stock remains at the established price levels.

This first international “green” bond issue will help strengthen the company's liquidity by diversifying its financing sources. The resources will be used to finance or refinance "green" projects according to the criteria defined by the Group's Regulatory Framework of Reference for Green Financing. This also includes works such as photovoltaic systems with a capacity of 750 MW per year for the next 5 years; in this way the expansion of the Audax Group in the renewable energy generation sector is strengthened.

Furthermore, Audax Renovables expands the base of prestigious international investors, increasing the free float of the company and improving the liquidity of the stock. An important step forward in the path of consolidation on the market.

The operation was coordinated by Goldman Sachs International and BNP Paribas and saw the participation of over 50 international investors. The latter assessed very positively the fact that Audax has already achieved most of the objectives presented to the Capital Market Day last year (May 2019) and which, according to forecasts, should have been reached by the end of 2022.