edp announcement

EDP signed credit facility of €1,600,000,000

Thursday, 31 January 2013

EDP – Energias de Portugal (EDP) has signed a five-year term loan facility in the amount of €1,600,000,000 with a group of 16 domestic and international banks.

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

EDP – Energias de Portugal (EDP) has signed a five-year term loan facility in the amount of €1,600,000,000 with a group of 16 domestic and international banks.

The new facility will be used during 2013 to refinance two existing and fully draw loans: (i) a EUR 925 million Revolving Credit Facility ("RCF") signed in 2008 and maturing in April 2013, which will be early prepaid and cancelled and (ii) a EUR 1,100 million RCF signed in 2006, to be repaid at maturity in November 2013.

The 5-year tenor of the new facility, with a 50% amortization in the 4th anniversary, aims to extend the average life of EDP's debt and reinforce financial flexibility. For the current rating level the facility bears an interest rate of Euribor plus 4 per cent.

The new facility was self-arranged as a Club Deal and received the support of a strong group of domestic and international banks. "Mandated Lead Arrangers" are Banco Bilbao Vizcaya Argentaria, S.A., Banco BPI, BNP Paribas, Citi, HSBC Bank plc Sucursal en España, ICBC, ING Commercial Banking, J.P. Morgan, Société Générale Corporate & Investment Banking, The Royal Bank of Scotland plc, Caixa – Banco de Investimento, S.A., Deutsche Bank Luxembourg S.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd, Banco Espirito Santo, Caja de Ahorros y Pensiones de Barcelona "la Caixa", Santander Global Banking & Markets. BNP Paribas acts as a Facility Agent.

EDP – Energias de Portugal, S.A.