Audax expands its promissory note program
The strong growth of the company has allowed it to double its business in Spain in the last 2 years until reaching 695 million euros in turnover
Audax Renovables, whose activities focus on the generation of renewable 100% electricity and the commercialization of electric energy and gas, has experienced one of the highest growth rates in the national energy market. This development is largely due to the strong penetration in the SME segment where Audax is positioned as the fourth marketer nationwide and is establishing itself as an alternative to traditional electricity companies. This progression has allowed it to double its business in Spain in the last 2 years, reaching 695 million euros.
To continue promoting the growth of the company, Audax, on February 13, 2019, has expanded the promissory note program for a maximum amount of 75 million euros, with repayment terms of up to 24 months. This program is the continuation of the one that Audax maintains in force and has been registered in the Alternative Fixed Income Market (MARF) under the name “Audax 2019 Promissory Note Program”. Of the total promissory note program, Audax Renovables currently has an 80% of the authorized limit available.
For this project Audax has Bankinter, Banco Sabadell, Banco Santander and Beka Finance SV as placement entities. On the other hand, the registered advisor designated for the operation is PKF Attest Servicios Empresariales, SL and the paying agent is Beka Finance, Sociedad de Valores, SA
The company's solid financial position will allow it to undertake new projects and boost its growth, both nationally and internationally, taking advantage of the synergies of the vertical integration of renewable energy marketing and generation activities. Audax hopes to continue to have the confidence of investors thanks to its growth forecasts and financial stability.