EDP prices EUR 1,250 million subordinated green notes
EDP prices EUR 1,250 million subordinated green notes
Lisbon, September 06th, 2021:EDP priced today two Green fixed to reset rate subordinated notes issuances: one 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 March 2082 and a yield of 1.6% up to the first reset date to happen 5 years and 6 months after issuance (the “NC5.5 Notes) and the other in the total amount of EUR 500 million, with an early redemption option exercisable by EDP 7.75 years after the issue date, final maturity date in March 2082 and a yield of 1.95% up to the first reset date to happen 8 years after issuance (the “NC8 Notes” and together with the NC5.5 Notes, the “Notes”).
Alike the issuances executed in January 2021, January 2020 and January 2019, the instruments are unsecured, senior only to EDP’s ordinary shares and junior to its senior debt obligations.
Among their key features, is the optional deferral of interest, which is cash-cumulative and compounding, as well as subject to compulsory payment events. The coupons are subject to resets at pre-defined dates and according to pre-defined mechanics further described in the terms of the issuances.
Application will be made for the Notes to be admitted to official listing on Euronext Dublin.
The net proceeds from these issuances are intended to 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. These issuances allow the reinforcement of EDP group’s financial flexibility.
BBVA, Crédit Agricole CIB, CaixaBI, HSBC, ICBC, ING, IMI-Intesa Sanpaolo, JP Morgan, Mediobanca, Mizuho, MUFG and Banco Santander 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.