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Portugal's EDP launches €650 million five-year notes mid-swaps plus 183 bps; pricing shortly
By Paul A. Harris
Portland, Ore., April 8 - Energias de Portugal, SA (EDP) launched a €650 million offering of senior notes due April 15, 2019 (Ba1/BB+/BBB-) at a 183 basis points spread to mid-swaps on Tuesday, according a market source.
The launch spread comes at the tight end of the final 185 bps spread talk. The deal was initially guided at 190 bps.
The five-year notes are expected to price shortly.
BNP Paribas, CaixaBank, CaixaBI, Citigroup, Deutsche Bank, HSBC, ING and Millennium BCP are the joint bookrunners.
HSBC will bill and deliver.
The prospective issuer is a Lisbon-based electricity producer.
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