EDPR sells cheap to price €1.5bn 're-IPO' amid rising bond yields inflation fears

By Sam Kerr
03 Mar 2021

EDP Renováveis, the Portuguese renewable energy company, priced a €1.5bn capital increase on Tuesday night. The trade will help the company fund expansion and attracted strong demand, but it had to offer a big discount as fears over rising bond yields continued to cast a shadow over the sector.

The Portuguese utility placed 88.25m shares at €17 each, a 9.3% discount to the closing price on the Lisbon stock exchange.

The deal was covered quickly after it was launched on Tuesday evening after a multi-day wall-crossing process and ended up "oversubscribed," according to sources close to ...

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