Audax obtains approval by a large majority of all the agreements in its bondholders' meeting
- The majority close to 100% in the three assemblies show the support of the bondholders for the management of the company.- The company obtains the waivers required for bondholders to launch a potential structured energy supply operation through a strategic partner (Market Access).- The punctual waiver of compliance with the indebtedness ratio for the 2022 financial year is also approved.
NOVEMBER 29, 2022.– Yesterday, Audax Renovables (ADX.MC) held the General Assembly of the Bondholders Syndicate of the Issuance of "Audax 2018 Senior Unsecured Bonds" (ISIN ES0305039028), corresponding to the Second Issuance and the third Issuance of Bonds under the Program called "EUR 400,000,000 Senior Unsecured Notes Program Audax Renovables, SA 2020" (ISIN ES0236463008) and the one corresponding to the Issuance of Convertible Green Bonds (ISIN XS2263652815) issued by AUDAX RENOVABLES, in which have approved by a large majority all the agreements submitted to a vote.
The points approved by a majority close to 100% in the three assemblies held on first call included a series of agreements framed both in a potential operation for the structured supply of gas, electricity and other products through a strategic partner (Market Access), as well as such as the authorization for the punctual waiver of compliance with the indebtedness ratio for the year 2022.
With the majority consent to the points submitted to a vote, the support of the bondholders in the management of the company is revealed, since in the event of a potential "market access" operation, it will give Audax a competitive advantage in a situation complex market situation, reducing working capital needs and freeing up a significant level of cash, thus continuing Audax's strategy of reducing its level of indebtedness.
To carry out the preparation of the aforementioned three assemblies, Audax has had the advice of top-level firms such as Garrigues and Alantra.
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About Audax Renewables
Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas to customers in seven European countries. Currently, it has a portfolio of wind and photovoltaic farms in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different stages of development, amounting to 2,536 MW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 396,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Spain. Audax began to be listed on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. In the first 9 months of 2022, its turnover reached 2,033 million euros, and has a team of more than 800 professionals.