NEW GREEN BOND ISSUE FOR AUDAX RENOVABLES

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

The transaction is part of the “EUR 400,000,000 Senior Unsecured Notes Programme Audax Renovables, SA 2020”, filed on 3 July at the MARF (Mercado Alternativo de Renta Fija) as established by Audax Renovables within theexchange operation announced last November 30th in the framework of the bond issues of 2017, 2018 and 2019 for total nominal amounts respectively of 65, 35 and an extension of the latter by 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 the financial costs. The funds obtained will also be used to finance or refinance "green" projects, as established by the regulatory framework 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 question coming from national and international investors, has allowed us to reach the figure of 200 million euros.

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

In this operation – which is unprecedented at the company level within the MARF – the following acted as 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 advice, Garrigues law firm and for financial advice, EY.

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

Both operations will allow for to realize and expand the objectives that Audax Renovables has set itself, in addition to diversifying its 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.

(December 17, 2020)