Audax Renovables’ €20 Million Green Bonds Offering

Garrigues advised Audax on the offering.

Audax Renovables completed iits first green bond issuance worth €20 million.

This issuance is part of the fixed income bond programme registered by the Company last July in the Alternative Fixed-Income Market (the “Bond Programme of MARF”) for a nominal amount of up to €400 million.

The first issuance of green bonds carried out by Audax Renovables with maturity date within 2 years amounts to €20 million, which will be allocated to finance the construction of 8 photovoltaic power stations – 4 of them located in Toledo (La Zarzuela I, La Zarzuela II, La Zarzuela III and La Zarzuela IV), each of them having a capacity of 5 MW, and the other 4 located in Guadalajara (Las Alberizas I, Las Alberizas II, Las Alberizas III and Las Alberizas IV), which also will have a capacity of 5 MW apiece, totalling 40 MW.

Audax Renovables is an independent company dedicated to generate electricity using 100% renewable sources, as well as to the sale of electricity and gas. Audax Renovables is quoted in the Spanish stock exchange.

Garrigues Barcelona office team advising Audax was led by partner Naiara Bueno Aybar (Picture) and included associates Arturo Noguer and Alejandro Ramón Contreras.

Involved fees earner: Naiara Bueno Aybar – Garrigues; Alejandro Ramón Contreras – Garrigues; Arturo Noguer Lloret – Garrigues;

Law Firms: Garrigues;

Clients: Audax Renovables;