Press Release

MARF admits to trading a new bond issue by Audax

11 October, 2018

MARF today admitted to trading a new bond issue by Audax Energía for a maximum amount of 35 million euros, a 5.5% annual coupon and maturity in 2023. The uses of proceeds of this new issue will be the amortisation of the 21 million euro issue launched by Audax in 2014 - whose maturity is July 2019 – and to push ahead with the development and international expansion of the company.

This is the third time that Audax has accessed the medium and long-term bond market. In addition to this, the company runs a 50 million euro commercial paper programme traded in this BME market.

Beka Finance and Ever Capital Investments have acted as Placement Entities for the new bonds and Banco Sabadell is the Payments Agent. The company’s Registered Advisor in MARF is PKF Attest and law firm J&A Garrigues has advised Audax on legal issues.

Axesor Rating has granted the issuer a BBB- rating with stable outlook.

Audax was incorporated in 2007, two years later it began to provide electric energy commercialisation services in Spain and in 2014 it started its international expansion.

In 2016 it entered the electricity generation sector with the acquisition of 70.8% of Fersa and created Audax Renovables. Last June the Boards of Directors of Audax Energía y Audax Renovables announced a reverse merger process between both companies.

In 2017 Audax posted revenues of 354 million euros, operating result of 14.5 million euros and a net profit of 9.7 million euros.

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