CEPSA SUCCESSFULLY COMPLETES ITS THIRD BOND ISSUANCE FOR €500 MILLION

The Company has successfully priced its third bond for an amount of €500 million, maturing in 2026
The issuance represents a further step in the continued diversification of funding sources carried out by the Company and reinforces its liquidity position
The offering, which was around 3.2 times oversubscribed, was very positively received by investors, demonstrating high confidence in Cepsa’s business model and credit profile
Cepsa has successfully completed its third bond issuance for €500 million, maturing in 2026, achieving a wide oversubscription of 3.2 times the volume offered. The bonds will be rated as investment grade by the three main rating agencies (Moody’s, S&P and Fitch), and will pay an annual coupon of 2.25%.

The issuance will be admitted to the official list and trading on the regulated market of the Irish stock exchange, and will allow Cepsa to strengthen its liquidity position from €4.2 to €4.7 Bn, diversify its sources of funding, whilst increasing the average maturity of its debt. The proceeds of the issuance will be used for general corporate purposes, including the refinancing of outstanding debt.

Salvador Bonacasa, CFO of Cepsa, said: “In line with the Company’s objective of continuous diversification of funding sources and active liquidity management, this new issuance, which follows the previous issuance executed in February of this year, enables Cepsa to further strengthen its liquidity position and shows the strong support from the investor community on the Company’s plans”.

This placement consolidates the Company’s position in the debt capital markets with three issuances in just over a year and enables Cepsa to continue to lay the foundations for accomplishing its growth plan.

Cepsa was advised by BNP Paribas, CaixaBank and HSBC as global coordinators, and by Bankia, BBVA, Citi, Commerzbank, Mizuho, Santander, SMBC Nikko and Unicredit as joint bookrunners.