Audax Renovables has set up a green bond programme in MARF, BME’s Fixed Income market with a maximum outstanding of €400 million. Bonds will be issued under the reference regulatory framework for green financing approved by Audax Renovables and will have an opinion from Vigeo Eiris, Moody’s independent providers of valuation, research and opinion services on environmental, social and governance (ESG) issues for investors and organisations.
With this programme, Audax Renovables aims for sustainable development, using the funds obtained to finance green projects, pursuing the achievement of the Sustainable Development Goals of United Nations, as well as funding future acquisitions both national and internationally. These projects will be controlled and reviewed by both Audax Renovables and an external independent entity.
PKF Attest acts as Register Advisor and Placement Entity of the programme in MARF and Banco Sabadell has been designated as the Paying Agent.
Audax Renovables, company listed on the Spanish Continuous Market, is the result of the merge between Audax Renovables and its parent company, Audax Energía. Currently, as an energy group, Audax has a leading position in the SME Spanish sector. The Group focus its activity on the sale of renewable energy and gas, as well as the production of 100% renewable energies. It has an international presence as it operates in Spain, Portugal, Italy, Germany, Poland, Holland, and Panama. As of 2019 the Group had revenues of €1,044 million and an EBITDA of €73 million. Audax has a BBB-, stable outlook ratified rating by Axesor. The rating agency considers that, thanks to the Company’s proper business model and solid financial foundation, Audax will be able to maintain an adequate credit profile.
Source: Audax Renovables (see the entire post)