New Issue: EDP prices €600 million 1.875% seven-year green bonds to yield 1.959%

By Susanna Moon

Chicago, Oct. 10 – Energias de Portugal, SA’s subsidiary EDP Finance BV (Baa3/BBB-/BBB-) priced €600 million of 1.875% seven-year senior green bonds at 99.455 to yield 1.959%, according to a market source.

The notes priced with a spread of mid-swaps plus 123 basis points. Initial price talk was in the mid-swaps plus 145 bps area.

The bookrunners are BNP Paribas, CaixaBank, Citi, ICBC, ING, JPMorgan (bill and deliver), Mediobanca, Millennium BCP and MUFG.

Proceeds will be used to finance or refinance EDP’s eligible green project portfolio as set out in EDP’s green bond framework.

The financial services subsidiary of Energias de Portugal is based in Amsterdam.

Issuer:	EDP Finance BV
Issue:	Senior green bonds
Amount:	€600 million
Maturity:	Oct. 13, 2025
Bookrunners:	BNP Paribas, CaixaBank, Citi, ICBC, ING, JPMorgan (bill and deliver), Mediobanca, Millennium BCP, MUFG
Coupon:	1.875%
Price:	99.455
Yield:	1.959%
Spread:	Mid-swaps plus 123 bps, or 1% Bunds due August 2025 plus 178.8 bps
Announcement date:	Oct. 10
Settlement date:	Oct. 12
Distribution:	Regulation S
Initial price talk:	Mid-swaps plus 145 bps area

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