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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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Real-time Euronext Lisbonne  -  11:35 2022-09-27 am EDT
4.552 EUR   -1.22%
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EDP Energias de Portugal S A : 5+2-Year €3,650,000,000 Sustainability-Linked Loan

08/04/2022 | 03:48pm EDT
5+2-Year €3,650,000,000 Sustainability-Linked Loan
Thursday04, August 2022

5+2-Year €3,650,000,000 Sustainability-Linked Loan

Lisbon, August 4th, 2022: EDP - Energias de Portugal, S.A. ("EDP") and EDP Finance BV have signed a five-year revolving credit facility ('RCF'), with options to extend for 2 additional years (subject to Lenders' agreement), in the amount of €3.65 billion, which can be drawn in Euros and USD.

It is EDP's first sustainability-linked loan and includes two ESG KPIs: reduction of scope 1 and 2 greenhouse gas emissions and an increase in the percentage of installed capacity from renewable sources within EDP Group.

The new RCF strengthens EDP Group's financial and liquidity position and is expected to serve as a back-stop facility. The RCF was oversubscribed, resulting in an increase in the contracted amount and in the number of committed banks, compared to the previous €3.3 billion RCF, which was replaced and had never been drawn.

The RCF was structured according to the Sustainability linked Loan Principles of the Loan Market Association. EDP's emissions reduction targets are recognized by the Science Based Target initiative as being aligned with the scientific trajectory required to limiting the increase in global average temperature to 1.5ºC. Whether or not the annual targets are met will impact the RCF's cost.

The facility was arranged as a Club Deal by EDP, together with BNP Paribas as Documentation Agent and Banco Santander, S.A. as Sustainability Coordinator, and includes the commitment of the following 25 domestic and international banks: Bank of America; Barclays Bank; Banco Bilbao Vizcaya Argentaria; BNP Paribas; CaixaBank; Caixa Geral de Depósitos; Citibank; Credit Agricole Corporate and Investment Bank; DBS Bank; Deutsche Bank; HSBC; ING Bank; Intesa Sanpaolo; J.P. Morgan; Mediobanca; Banco Comercial Português; Mizuho Bank; MUFG; NatWest Markets; Banco Santander; SMBC Bank; Société Générale; UniCredit Bank, as Bookrunners & Mandated Lead Arrangers, and Goldman Sachs Bank and Morgan Stanley Bank, as Mandated Lead Arrangers. MUFG also acts as Facility Agent.

The RCF allows for greater alignment of EDP's financial strategy with its sustainability strategy and reinforces EDP's commitment to decarbonization and to material aspects of its strategy, namely the fight against climate change and the promotion of renewable energy.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council from April 16, 2014.

EDP - Energias de Portugal. S.A.

Disclaimer

EDP - Energias de Portugal SA published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 19:47:05 UTC.


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Sales 2022 16 538 M 15 954 M 15 954 M
Net income 2022 855 M 825 M 825 M
Net Debt 2022 14 487 M 13 975 M 13 975 M
P/E ratio 2022 21,2x
Yield 2022 4,15%
Capitalization 18 188 M 17 458 M 17 546 M
EV / Sales 2022 1,98x
EV / Sales 2023 1,92x
Nbr of Employees 12 907
Free-Float 66,0%
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Number of Analysts 21
Last Close Price 4,61 €
Average target price 5,99 €
Spread / Average Target 30,1%
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Miguel Stilwell de Andrade Head-Strategy & Corporate Development
Rui Manuel Rodrigues Lopes Teixeira Head-Electricity Generation
Rita Sousa Head-Compliance
Fernando Maria Masaveu Herrero Member-Supervisory Board
João Carvalho das Neves Member-Supervisory Board
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