Audax has tapped its existing green bond issue from 2020 with €100 million, reaching an outstanding of €300 million.
In December 2020 Audax issued a €200 million bond under its MTN programme called “EUR 400,000,000 Senior Unsecured Notes Programme Audax Renovables, S.A. 2020” registered on July 2020 in MARF (BME’s Alternative Fixed Income Market). The nominal amount of this bond has been increased through the Tap, bringing the total bond outstanding to €300 million. This is the largest corporate bond issuance registered in MARF. The bond has an annual yield of 4.2% and it is due in December 2027.
This new bond has received a strong demand from both national and international investors. PKF Attest and Beka Finance have acted as Joint Bookrunners, while Banca March has been designated as Co-Lead. PKF Attest is also the Registered Advisor, while Banco Sabadell is the Payment Agent and J&A Garrigues the Legal Advisor.
In addition to Audax’ bond issues, the company has a €300 million Commercial Paper Programme registered in MARF. PKF Attest is the Registered Advisor, Coordinator and Dealer in this programme.
Audax Renovables is a utility group with international presence that integrates the businesses of generation and commercialization of 100% renewable electricity and gas. As of 2020 the Group had revenues of €967 million and an EBITDA of €66 million. The company has renewed its credit rating by Axesor, maintaining a BBB- with stable outlook.
Source: Audax (Read the entire post here)