EDP receives first tranche of electricity deficit amortisation fund in Spain
EDP, through its 96.86% held Spanish subsidiary Hidroeléctrica Del Cantábrico S.A. ("HC Energia"), shall receive around €102.5 million, which corresponds to 6% of the amount received by FADE excluding amount that corresponds to extra-peninsular tariff deficit.
On January 11th, 2011, FADE, the Spanish Electricity Deficit Amortisation Fund, launched its inaugural bond issuance explicitly guaranteed by the Kingdom of Spain. This first tranche which amounts to €2 billion matures on March 17th, 2014, pays a coupon of 4.80% and was priced at a spread of 290bps over the mid-swap interpolated rates. The amount will be received by FADE on January 25th, 2011.
EDP, through its 96.86% held Spanish subsidiary Hidroeléctrica Del Cantábrico S.A. ("HC Energia"), shall receive around €102.5 million, which corresponds to 6% of the amount received by FADE excluding amount that corresponds to extra-peninsular tariff deficit.
EDP – Energias de Portugal, S.A.
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