The EDP announced on Thursday the placement of a bond issue of 600 million euros with a maturity of seven years, intended “to finance the needs arising from the normal course of business” and to ensure “greater financial flexibility.”
the interest rate achieved in the operation which was advised by banks such as BBVA, CaixaBank, Haitong Bank and ING, among others, was 2.375%, said the company in a statement sent to the Portuguese Securities Market Commission (CMVM).
EDP joins so Brisa Road Concessions (which on Tuesday was market seeking 300 million euros), taking advantage of the margin created by the European Central Bank’s announcement (ECB) last week.
the entity headed by Mario Draghi announced the strengthening of the asset purchase program or public debt of the eurozone countries, or from non-financial private companies with ratings with level of investment, a monthly amount of 80 billion euros.
in the Portuguese case, there is a restricted lot of companies eligible for these ECB buying operations. In addition to the EDP and Brisa Road Concessions, only REN has a rating above junk. In total, these companies have securities to be traded on the market in the amount of approximately 9250 million.
EDP also explains that the bonds issued under the debt issuance program Programme for the Issuance of Debt Instruments (MTN), EDP and EDP Finance BV, will be listed on the Irish square.
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