Audax Renovables agrees with the ICO on a line of guaranteed promissory notes worth 119 million
- The Official Credit Institute thus guarantees issues in the Alternative Fixed Income Market (MARF) within the framework of the promissory note program that Audax maintains in force for a limit of 300 million euros.
- This operation consolidates Audax Renovables as one of the main issuers in the Alternative Fixed Income Market and results in the company's credit quality.
Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates and supplies 100% renewable electricity and gas to customers in 7 countries, has signed an agreement with the Official Credit Institute (ICO) by which it will obtain a new line of financing in promissory notes guaranteed by the entity for a nominal amount of up to 170 million euros and a guarantee of up to 119 million euros.
The agreement guarantees 70% of the promissory note issues that Audax Renovables carried out in the alternative Fixed Income market (MARF) up to that figure, within the framework of the program that the company maintains in force for a limit of 300 million euros. This program allows emissions to be made up to a maximum period of 2 years.
This operation consolidates Audax Renovables as one of the main issuers of the MARF, offering investors promissory notes guaranteed by the ICO, which results in credit quality and the possibility of investing in the long terms of the promissory note curve under attractive conditions. The company thus has the support of the Official Credit Institute, in a measure that other large operators in our country have already used.
Yesterday afternoon, the Base Information Supplement for the Incorporation of Audax Renovables in the Alternative Fixed Income Market (MARF) was signed between the company, the Official Credit Institute (ICO) and the MARF. The agreement was signed yesterday at the ICO headquarters in Madrid by Enrique Blanco, representing the entity; Gonzalo Gómez representing MARF and Eduard Romeu representing Audax Renovables.
The Official Credit Institute demonstrates once again its commitment and support to Spanish companies in times of certain uncertainty according to the current market situation.
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 parks in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different phases of development that amounts to 2,536 MW. In its marketing activity, the group chaired by José Elías Navarro provides renewable energy and gas to more than 518 thousand clients in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and leads the SME segment in Spain. Audax began trading 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 2021 its turnover reached 1,690 million euros , and has a team of more than 800 professionals.