AUDAX RENOVABLES ISSUES €65M BOND WITH A 130% REQUEST

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

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

This operation has been guaranteed of the ICO (Instituto de Crédito Oficial), element that Audax Renovables considers very positive, a pillar on which to base the success of the initiative. Likewise, the company underlines the excellent collaboration received from the MARF (Mercado Alternativo de Renta Fija) in making the operation easier. All factors that have contributed to the excellent reception received on the market.

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

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

Lately important actions have been taken operations both on the renewable energy generation side (with the first issue of green bonds for the construction of 8 photovoltaic plants in Toledo and Guadalajara, Spain) as well as on the international expansion with the 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 electricity market in Portugal, first behind the large traditional energy groups.

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

Globally, Audax Renovables is continuing its strategy to 2022. Its objectives include increasing the number of customers to 500,000 and energy supply to a total of 15 TWh. It also plans to exceed €1,500 million in revenue and bring EBITDA to over €100 million, while reducing financial debt to optimize the Group's resources and create value for shareholders.