EDP Prices Eur 750 Million Subordinated Green Notes
EDP Prices Eur 750 Million Subordinated Green Notes
Lisbon, January 25th, 2021: EDP priced today a fixed to reset rate subordinated notes issuance in the total amount of EUR 750 million, with an early redemption option exercisable by EDP 5.25 years after the issue date, final maturity date in August 2081 and a yield of 1.95% up to the first reset date to happen 5 years and 6 months after issuance (the “Notes”).
Alike the emissions executed in January 2020 and January 2019, 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 Euronext Dublin. The net proceeds from this issuance will be used for the financing or refinancing, in whole or in part, of EDP's Eligible Green Project Portfolio as set out in EDP’s Green Bond Framework, available on EDP’s website. This issuance allows the reinforcement of EDP group’s financial flexibility.
BofA Securities, CaixaBank, Citi, J.P. Morgan, Mediobanca, Millennium BCP, Santander, Société Générale and UniCredit acted jointly as Joint Lead Managers and Joint Bookrunners.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code.
EDP - Energias de Portugal, S.A.