Cash tender offer for outstanding Hybrid and new issue of green hybrid
Cash tender offer for outstanding Hybrid and new issue of green hybrid
Lisbon, January 16th 2023: EDP - Energias de Portugal, S.A. (“EDP”) provides the following information to the market and to the public in general:
CASH TENDER OFFER FOR OUTSTANDING FIXED TO RESET RATE SUBORDINATED NOTES
An invitation for a cash tender offer was launched today for the debt securities identified below, subject to acceptance by EDP and certain terms and conditions set out in the respective Tender Offer Memorandum (the “Offer”). The purchase of any Notes validly tendered by the holders in the Offer is conditional, without limitation, on the successful completion of the offering of the New Subordinated Green Notes referred to below (Please refer to the attachment).
The purpose of the Offer, together with the proposed issue of New Notes (as defined below), is to proactively manage the Offeror's hybrid capital layer.
NEW SUBORDINATED GREEN NOTES ISSUE
EDP also intends to issue a new series of euro-denominated fixed to reset rate subordinated notes, subject to market conditions (the “New Subordinated Green Notes” or the “New Notes”). The New Notes would be unsecured, senior only to EDP’s ordinary shares and junior to its senior debt obligations and the proceeds from the issue directed to EDP’s eligible green projects portfolio.
The Offer does not constitute an invitation to tender in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws.
No action has been or will be taken in any jurisdiction (including Portugal) in relation to the new notes that would allow a public offering of securities.
The present information has been prepared pursuant to the terms and for the purposes of the established in article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.
EDP – Energias de Portugal, S.A.