Audax Renovables closes its 4th bond issue for 35 million euros

The operation represents an application of the issue that was carried out in October 2018 and confirms the confidence of investors in the company

Audax Renovables (ADX.MC), the energy group that integrates the marketing and generation of 100% renewable electricity businesses, has launched on October 10, 2019 a “Tap” or extension of its previous bond issue that took place in October 2018. With this operation Audax Renovables obtains financial stability for the next three years, since the maturity will be in October 2023. The total amount of the issue has amounted to 35 million euros, maintaining coupon and maturity date, at a profitability of 4,35%.

The operation has sparked great interest among investors, thanks to the good performance of the company and the record results obtained in the first half of 2018, which has been reflected in the speed of the placement. The “books” of the operation were opened on October 10 early in the morning and concluded the same day at market close. In this way, the total volume of the issue stands at 70 million euros. 

For this operation Audax Renovables has had Beka Finance, which has been in charge of directing the operation as MLA (mandated lead arranger), and Haitong as co-lead.

This is Audax's fourth issuance in the MARF long-term fixed income market, after its operations in 2014 (already amortized), 2017 and 2018. It also represents the first operation after the reverse merger carried out between Audax Renovables and Audax Energía at the beginning. of this year.

The objective of this operation has been to shield the company's balance sheet against any eventuality that may occur in the market, which ratifies the management's high criteria of prudence.

Audax Renovables is confident that it will contribute to strengthening the company and its leadership as the first independent marketer in the SME segment in Spain, as well as continue replicating the success obtained in Spain in the international markets in which it operates: Portugal, Italy, Germany, Holland, France , Poland and Panama.

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