Leading international law firm Clifford Chance advised EDP – Energias de Portugal (“EDP”), the largest generator, distributor and supplier of electricity in Portugal and a global leader in the renewable energy sector, in connection with its $750,000,000 hybrid green bond issuance. The proceeds from this hybrid issuance, which has a fixed to reset rate of interest and is subordinated to EDP’s other senior notes, will be used to finance or refinance renewable wind and solar projects as set out in EDP’s Green Bond Framework. This is the fourth corporate “hybrid” bond Clifford Chance has advised EDP on.

This follows Clifford Chance’s role as EDP’s counsel for its $850,000,000 7-year, Rule 144A green bond issuance in September 2020 and share capital increase, by way of a rights issue, in August 2020.

The Clifford Chance team was led by Debt Capital Markets Partner David Bickerton and Senior Associate Russell Harris.