EDP prices EUR 750 million subordinated notes | edp.com

Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal SA ("EDP") is providing the following information to the market:

EDP priced today a 5.5-year non-call subordinated notes issuance in the total amount of EUR 750 million, with final maturity date in September 2075 and a coupon of 5.375% (the "Notes"). The instrument is unsecured, senior only to EDP's ordinary shares and junior to its senior debt obligations. Among its key features, is the optional deferral of interest, which is cash-cumulative and compounding, as well as subject to compulsory payment events. The coupon is subject to resets at pre-defined dates and according to pre-defined mechanics further described in the terms of the issuance.

Application will be made for the Notes to be admitted to official listing on the Irish Stock Exchange. This issuance is intended for general corporate purposes and is in line with EDP's financial policy of extending the average life of its debt portfolio, improving its credit metrics and reinforcing its financial flexibility.

Deutsche Bank and UBS Investment Bank acted as Global Coordinators and jointly with BNP Paribas, HSBC, JP Morgan, Millennium BCP and Santander GBM as Joint-Bookrunners.

EDP – Energias de Portugal. S.A.


This press release is not for distribution, directly or indirectly, in or into the United States. This press release is for information purposes only and is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or in any other jurisdiction where such offer or solicitation would be prohibited. The notes (the "Notes") issued by EDP.(the "Issuer") may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) unless registered under the Securities Act or pursuant to an exemption from such registration. The Notes have not been, nor will be, registered under the Securities Act. No public offering of the Notes will be made in the United States.
No offer was, or will be, registered with the Portuguese Securities Market Commission ("Comissão do Mercado de Valores Mobiliários") and, therefore, the newly issued debt securities comprised in the new issue cannot be offered to the public in Portugal or under circumstances which might imply a qualification as a public offer under the Portuguese Securities Code ("Código dos Valores Mobiliários"). No advertising materials were, or will be, made available to the public in Portugal and no marketing activities will be carried out in Portugal.