edp announcement

EDP signed credit facility of €2,000,000,000

Friday, 27 February 2015

EDP – Energias de Portugal (EDP) has signed a five-year credit facility in the amount of €2,000,000,000 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 credit facility in the amount of €2,000,000,000 with a group of 16 domestic and international banks.

The new facility is composed of two tranches: tranche A (corresponding to 75% of the total) is a Term Loan and Tranche B (corresponding to 25% of the total) is a Revolving Credit Facility ("RCF").

The new facility will be used mainly to refinance a EUR 1 600 million syndicated loan signed in January 2013 which matured in January 2017 (50%) and January 2018 (50%) and which will therefore be early repaid and cancelled. The intention is therefore to increase the average life of EDP's debt and reinforce the Group's financial flexibility

For the current rating level the facility bears an interest rate of Euribor plus 1.1 per cent.

The new facility was self-arranged as a Club Deal and received the support of a group of international banks: Banco Bilbao Vizcaya Argentaria, Banco BPI, Banco Popular Español, Banco Santander Totta, Bank of China (Luxembourg), The Bank of Tokyo Mitsubishi UFJ, BNP Paribas, Caixabank, Citigroup Global Markets, Deutsche Bank Luxembourg, HSBC Bank, ING Bank, J.P. Morgan, Mediobanca International, The Royal Bank of Scotland and Societe Generale. BNP Paribas acts as a Facility Agent.


EDP – Energias de Portugal, S.A.