Audax Renovables approves two green debt issuance programs for 700 million euros

The company has registered a bond issuance program in the MARF for 400 million and its first international promissory note program in Ireland for 300 million euros

Audax Renovables (ADX.MC), the energy group that integrates the marketing and generation of 100% renewable electricity businesses, has launched two green debt programs with the aim of obtaining financing at competitive prices in the capital markets, both Spanish and international. The objective is to finance its growth both in the generation of renewable energy and in the commercialization of green energy, as well as to finance possible new acquisitions at a national and international level.

Audax Renovables has registered, on July 3, a bond issuance program for an amount of up to 400 million euros in the MARF. This program gives the company flexibility to be able to carry out one or several issues, at any term and with any type of structure, until the approved amount is reached.

Additionally, it has also registered its first international ECP (Euro Commercial Paper Programme) program on the Dublin Stock Exchange, for an amount of 300 million euros. To carry out this operation, it has had the collaboration of Banco Santander and Bred Banque Populaire as placement entities.

This international program is open to any professional investor in Europe, including large international funds, in a very competitive and deep market that will allow Audax Renovables to expand its investment base in international markets. In this way, Audax Renovables is the first independent energy company to enter this market.

With these two green debt programs, Audax Renovables confirms its ability to be present in both the national and international capital markets and will allow the company to face its growth challenges, both in the generation and marketing business of renewable energy, with the maximum guarantees of solvency.

Last June, Audax Renovables approved its Regulatory Reference Framework for Green Financing for its upcoming bond issues which, in the opinion of expert Vigeo Eiris, complied with the requirements established by the International Capital Markets Association (ICMA), for which obtained the highest level of guarantee. This has allowed this new program worth 400 million euros registered in the MARF to be the first to be considered “green”, so that all emissions carried out under this program meet the requirements of many international investors who , among its investment requirements, are environmental, social and corporate governance (ESG) principles.

And last April the company managed to ratify its Investment Grade (BBB-) rating granted by Axesor. Despite the current situation derived from the health alert caused by COVID-19, Audax managed to ratify the ranking thanks to the Contingency Plan it developed to mitigate the possible impact that could result on the business and to maintain the company's solid financial position. , your liquidity and your credit profile.


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