Skip to main content

Clifford Chance

Clifford Chance

News and awards

Clifford Chance advises EDP on its €1 billion capital raising

10 August 2020

Clifford Chance advises EDP on its €1 billion capital raising

Leading international law firm Clifford Chance advised EDP – Energias de Portugal, the largest generator, distributor and supplier of electricity in Portugal, the third largest electricity generator in Iberia and a global leader in the renewable energy sector, in connection with its €1.020 billion share capital increase, by way of a rights issue, used to finance the acquisition of Viesgo, a Macquarie portfolio company that owns electricity distribution networks in Northern Spain as well as renewable assets and thermal power plants in Spain and Portugal. The offering was 2.6 times oversubscribed.

This follows Clifford Chance's role in the landmark UK capital raising transactions of Compass Group's £2 billion placing and Informa on its £1 billion placing and its role on China Pacific Insurance's US$1.8 billion London GDR offering in June 2020.

The Clifford Chance team, all based in London, was led by US Securities Partner John Connolly alongside Equity Capital Markets Partner Chris Roe, U.S. Senior Associate Patrick Meson, Equity Capital Markets Senior Associate James Koessler and US Associate Kelly Frevele.