EDP prices 1,000 million subordinated green notes | edp.com

Pursuant to the terms and for the purposes of 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 SA (“EDP”) provides the following information to the market and to the public in general:

EDP priced today a fixed to reset rate subordinated notes issuance in the total amount of € 1,000 million, with a first call option exercisable by EDP 5 years after the issuance date, final maturity date in April 2079 and a yield of 4.5% up to the first reset date to happen 5 years and 3 months after issuance (the “Notes”).

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, which consists of renewable projects – wind and solar – of EDP Renováveis, as set out in EDP’s Green Bond Framework, available on EDP’s website. This issuance allows the extension of the average life of EDP’s group debt portfolio, the improvement of its credit metrics and the reinforcement of its financial flexibility.

Deutsche Bank acted as Structuring Bank and jointly with Barclays, Crédit Agricole, HSBC, MUFG, NatWest Markets, Santander and UniCredit as Joint Lead Managers and Joint Bookrunners.

EDP – Energias de Portugal. S.A.