Garrigues counsels Audax on €200m green bonds issuance

Garrigues has advised the energy group on the completion of a €200 million green bond issue at the MARF

Audax Renovables has successfully completed a green bond issue for the amount of €200 million. This issue is part of the bond programme called “EUR 400,000,000 Senior Unsecured Notes Programme Audax Renovables,S.A. 2020”, registered on July 3 in the MARF, and as part of the exchange operation announced by the company on November 30 for the bonds issued under the 2017, 2018 and 2019 issues for a total nominal amount of €65 million, €35 million, and the extension of the latter by another €35 million, respectively.

This issue was made in order to restructure the maturities of the group’s debt, thereby extending these maturities until December 2027 and reducing the financial cost of this debt. The funds obtained will also be used to finance or refinance green projects, as defined in the Green Finance Reference Framework, approved by the group in March, boosting its commitment to renewable energy generation.

Garrigues Barcelona office team advising on this deal was led by partner Naiara Bueno Aybar (pictured left) and included associates Arturo Noguer (pictured top right) and Alejandro Ramón Contreras (pictured bottom right).