Portugal's EDP prices $814 million 7-year green bond at 3.4% yield

Edp Renewables SA

22/05/2026 07:48

LISBON, May 22 (Reuters) - Portugal's largest power utility EDP EDP.LS priced a €750 million ($870 million) seven-year green bond at an implicit yield of 3.4% as it taps debt markets to finance environmentally sustainable assets, it said late on Thursday.

The bonds carry a 3.75% coupon and mature in March 2033.

EDP said it had pre-hedged the mid-swap rate on debt to be refinanced in 2026, helping lock in favourable financing conditions ahead of the deal, resulting in an implicit yield of 3.4% for the bonds.

EDP controls the world's fourth-largest wind power producer EDP Renewables EDPR.LS.

It said the net proceeds from the issuance will be used to finance or refinance eligible green assets, which are fully aligned with the EU taxonomy.

The notes will be issued under EDP's multi-currency medium-term note (MTN) programme and are expected to be listed on Euronext Dublin.

The deal's joint bookrunners were BBVA, CaixaBI, Credit Agricole CIB, DBS, Deutsche Bank, HSBC, ING, Millennium bcp, Mizuho and Standard Chartered.

($1 = 0.8616 euros)

 (Reporting by Sergio Goncalves;
Editing by Tomasz Janowski)

 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net))