AUDAX RENOVABLES ISSUES BOND FOR €65 MILLION WITH A REQUEST OF 130%

Audax Renovables, a company whose business is divided between the marketing of electricity and gas and the generation of renewable 100% electricity, has finalized a bond issue For 65 million euros, while the request from investors amounted to 84 million; this forced the company to use a sharing mechanism.

The company's bond program includes a limit of 200 million euros, of which a 65% has been made available, a percentage considered optimal for achieving future objectives. The term of this issue was set at 24 months, having received a higher demand in all tranches at a cost that reached 0.8%.

This operation obtained the guarantee of the ICO (Instituto de Crédito Oficial), an element that Audax Renovables considers very positive, a pillar on which to base the success of the initiative. Equally, the company emphasizes the excellent collaboration received from the MARF (Mercado Alternativo de Renta Fija) in making the operation smooth. All factors that contributed to the excellent reception received on the market.

This bond issue will contribute to strengthen liquidity of the company, allowing it to honor the commitments made regarding treasury management until June 2021 without the need to issue new bonds.

In any case, Audax Renovables will be able to maintain high additional liquidity to undertake future investments in renewable 100% energy generation and be ready to seize new market opportunities.

Recently important events have been carried out operations both on the renewable energy generation side (with the first emission of green bonds for the construction of 8 photovoltaic plants in Toledo and Guadalajara, Spain) as well as for international expansion with entry into the Hungarian market (through the acquisition of E.ON Energiakereskedelmi Kft.). Added to this is the acquisition of PH Simples, a Portuguese energy sales company: an operation that has contributed to making Audax the sixth company in the Portuguese electricity market, first behind the large traditional energy groups.

Meanwhile, the company confirms the excellent trajectory of its production and supply activities of green 100% energy, as the results of the first half of 2020 will soon show.

Globally, Audax Renovables continues its strategy to 2022. The objectives include increasing the number of customers to 500,000 and energy supply to a total of 15 TWh. It is then expected to exceed 1,500 million euros in turnover and bring EBITDA above 100 million euros, reducing financial debt so as to optimize the Group's resources and create value for shareholders.