€125M CONVERTIBLE "GREEN" BOND PLACEMENT CLOSED

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

The deal attracted strong interest from international investors and demand 2.4 times higher than supply forced the company to use a share-sharing mechanism.

The maturity 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 issuance of “green” bonds will help strengthen the company’s liquidity by diversifying its sources of financing. The resources will be used to finance or refinance “green” projects according to the criteria defined by the Group’s Green Financing Regulatory Framework. This also includes projects such as photovoltaic plants with a capacity of 750 MW per year for the next 5 years, thus strengthening the Audax Group’s expansion in the renewable energy generation sector.

In addition, Audax Renovables expands its base of prestigious international investors, increasing its share to 30%. 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 have highly valued the fact that Audax has already achieved most of the objectives presented at the Capital Market Day last year (May 2019) and which, according to forecasts, should have been achieved by the end of 2022.