New Promissory Notes Program

Audax Energía, the 9th largest marketer in the Spanish electricity market, has registered a Company Promissory Note program for a maximum outstanding balance of 50 million euros. This is the second issue carried out by the marketer since in 2014 it was the first Catalan SME to issue bonds in the Alternative Fixed Income Market (MARF), managing to place 21 million euros. With this issue of promissory notes Audax Energía continues to diversify its financing sources with the aim of enhancing its national and international growth.

The issuance of Promissory Notes has been carried out by PKF Attest in its capacity as Registered Advisor of Audax Energía and with the legal advice of J&A Garrigues. It has been carried out for an outstanding balance of 50 million euros and will allow individual issues to be carried out for one year with unit nominals of €100,000 and repayment periods of between 3 days and 24 months maximum. The placement entities will be Banco Santander, Banco Sabadell and Beka Finance SV.

Last November, the rating agency Axesor ratified Audax Energía's BBB- rating with a stable trend after the acquisition of 70,86% of the capital of the listed company Fersa Energías Renovables SA Axesor highlighted in its report the optimal positioning of the company, especially in the SME segment and emphasizes that the acquisition of Fersa will boost the company's synergies and competitive advantages. This operation marked the entry of Audax Energía into the electricity generation phase, which allows the marketer complete vertical integration, acting as buyer and seller in the electricity wholesale market and positioning itself as the 5th independent energy company.

Audax Energía, with national 100% capital, had a turnover of 487.9 million euros in 2015 with an EDITDA of 18.2 million euros.

One of the pillars of its strategic plan is internationalization that began in 2013 in Portugal, where it has managed to reach 7th position and consolidate its market share. In 2014, it entered the Italian market through the acquisition of the company Big Energía and subsequently achieved exponential growth with the acquisition of the domestic division of the CEI trading company, Compagnia Energetica Italiana. Germany has been a key bet as it is one of the main energy markets in the European Union. In January 2015, Audax Energie GmbH was created, where significant growth is being recorded after implementing the company's own commercial strategy in the country. The last country where it began its international activity was Poland, where in 2016 it acquired the energy company Deltis Energia, located in Warsaw and which already has more than 2,500 customers to whom it supplies electricity and gas.

Audax Energía aims to continue expanding internationally with entry into other countries in the European Union and Latin America.

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