On 25 March 2021, Carmila successfully placed €300 million worth of 8-year bonds maturing on 1 April 2029 and paying a coupon of 1.625%. Carmila is using the proceeds to pay down a €300 million portion of its bank debt maturing in June 2024. This operation is yet another demonstration of Carmila’s ability to access the debt markets at attractive conditions. It also reflects Carmila's dynamic debt management strategy of (i) optimising its bond maturities, (ii) limiting the surplus cash generated by the operation, and (iii) managing its borrowing costs.