EDP prices €850 million subordinated green notes
Lisbon, September 9th 2024: EDP, S.A. (“EDP” or “Company”), informs it has priced today a fixed to reset rate subordinated green notes issuance in the total amount of €850 million, with an early redemption option exercisable by EDP 6.5 years after the issue date, final maturity date in September 2054 and a yield of 4.75% (annual coupon of 4.625%) up to the first reset date to happen 6.5 years after issuance (the “Notes”).
The instrument is unsecured, senior only to EDP’s ordinary shares and junior to its senior debt obligations.
The Notes will be issued under EDP, EDP Finance B.V. and EDP Servicios Financieros España S.A.U.’s Programme for the Issuance of Debt Instruments (MTN) and 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 to finance or refinance Eligible Green Assets, as defined in EDP's Green Finance Framework, which is available on the Company’s website. The Notes are intended to support the funding of EDP’s €17 billion investment plan by enhancing EDP group’s financial flexibility.
BofA Securities, Citi, Deutsche Bank (B&D), DBS Bank Ltd., HSBC, ICBC, Mediobanca, Mizuho, MUFG, Natixis, Santander, Standard Chartered Bank AG and Wells Fargo Securities acted as Joint Lead Managers and Unicaja - Kenta Capital acted as Co-Manager.
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.
EDP, S.A.