María José Leal, CFO AEDAS Homes..

AEDAS Homesa leading homebuilder in Spain, has reduced its gross debt by €70 million through a partial repurchase of its green bond issued in May 2021 at a nominal value of €325 million with a 4% annual interest rate and a maturity of more than five years. As a result, the bond’s outstanding value is now €255 million.

The company repurchased €68.4 million from bondholders who participated in the tender offer launched between 20 and 27 March at a maximum price equivalent to 99% of the nominal value of the bond issuance and an additional €1.56 million on the open market in February.

“With the partial buyback of its bond, AEDAS Homes has once again shown its financial strength. The company is reducing its existing gross debt, thereby optimizing its financing costs”, explained María José Leal, Chief Financial Officer of AEDAS Homes. It is worth noting that the credit risk of this bond issuance was rated by S&P, Fitch and Moody's at BB-, BB and Ba2, respectively, earning the highest rating in the EMEA homebuilding sector, and that these ratings have been maintained since issuance.

With the tender offer period having ended on Wednesday, 27 March, and the acceptance results having now been published by AEDAS Homes, on Wednesday, 3 April, the homebuilder will proceed to settle the repurchased bonds and cancel them along with those acquired in other buyback transactions carried out in February, thereby amortizing a total of €70 million.

This partial repurchase is part of the company's strategy of maintaining a suitable level of leverage while offering attractive shareholder remuneration.

This reduction in gross debt comes just days after AEDAS Homes distributed an interim dividend of €2.25 gross per share, based on the results of the current fiscal year 2023/24 (ending 31 March), which translated into total remuneration of €97 million.

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