New Issue: EDP prices €1 billion 2 5/8% seven-year notes mid-swaps plus 190 bps

By Paul A. Harris

Portland, Ore., Sept. 11 – Portuguese electricity supplier EDP (Energias de Portugal, SA) launched and priced a €1 billion issue of 2 5/8% senior notes due Jan. 18, 2022 (Ba1/BB+/BBB-) at a 190 basis points spread to mid-swaps on Thursday, according to a market source.

The notes priced on top of price talk.

Joint bookrunner SG CIB will bill and deliver. BPI Group, ING, Millennium BCP, MUFG, Mizuho, Royal Bank of Scotland and Santander are also joint bookrunners.

Issuer:	EDP Finance BV
Amount:	€1 billion
Maturity:	Jan. 18, 2022
Securities:	Senior notes
Bookrunners:	SG CIB (bill and deliver), BPI Group, ING, Millennium BCP, MUFG, Mizuho, Royal Bank of Scotland and Santander
Coupon:	2 5/8%
Price:	99.312
Yield:	2.731%
Spread to mid-swaps:	190 bps
Trade date:	Sept. 11
Settlement date:	Sept. 18
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
	Fitch: BBB-
Distribution:	Regulation S
Price talk:	Mid-swaps plus 190 bps
Marketing:	Quick to market

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.