EDP in $2 Billion Debt Offering; EDP’s First Offering in the U.S. Debt Markets

Cleary Gottlieb represented EDP – Energias de Portugal S.A. in the issuance by its finance subsidiary, EDP Finance BV, of $1 billion of 5.375% notes due November 2012 and $1 billion of 6.000% notes due February 2018 in accordance with Rule 144A and Regulation S. The notes, listed on the London Stock Exchange, represent EDP’s first debt offering in the U.S. debt market. Barclays Capital Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated served as Joint Lead Managers and Bookrunners on the deal. The offer closed on November 2.

EDP is the largest generator, distributor and supplier of electricity in Portugal and also has significant operations in Spain, Brazil and the United States.