EDP issues EUR-1.25bn green bond to finance renewables

EDPR Pereira Barreto PV complex. Image by EDP (www.edp.com)

March 15 (Renewables Now) - Energias de Portugal SA (ELI:EDP), better known as EDP, announced on Monday it has priced EUR 1.25 billion (USD 1.37bn) worth of green bonds.

The seven-and-a-half-year notes, to be issued under EDP and EDP Finance BV’s Programme for the Issuance of Debt Instruments (MTN), will mature in September 2029. The debt instruments have a coupon of 1.875%, corresponding to a yield of 1.897%.

EDP plans to use the proceeds raised through the issuance to finance or refinance, in whole or in part, eligible wind and solar assets held by its renewable energy unit EDP Renovaveis SA (ELI:EDPR), as established in EDP’s Green Bond Framework.

The company is applying for the notes to be admitted to trading on Euronext Dublin, the firm stated in its filling.

Barclays Plc (LON:BARC), BNP Paribas SA (EPA:BNP), Citigroup Inc (NYSE:C), Commerzbank AG (ETR:CBK), HSBC Holdings Plc (LON:HSBA), ING Group (AMS:INGA), JPMorgan Chase & Co (NYSE:JPM), Millennium bcp (ELI:BCP), NatWest Markets (FRA:VWVH) and UniCredit SpA (BIT:UCG) were joint bookrunners.

(EUR 1.0 = USD 1.096)

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