BBVA Corporate & Investment Banking has acted as bookrunner on the 600 million euro debt issue by the Portuguese energy firm EDP bearing interest at 4.125%, a lower rate than expected due to widespread interest in the Portuguese company's bonds, particularly among investment funds.

The event follows a previous issue by the company with the same maturity of 7 years. This makes EDP the Portuguese issuer with the longest maturity since the onset of the sovereign debt crisis.

The issue secured demand of up to 2,300 million euros from 330 accounts in more than 25 countries. 25% of the debt was taken up by Portuguese investors, while German and Austrian investors accounted for 20%, British investors for 16%, and Spanish investors 13%. Italian, French, Swiss and Benelux buyers took up 8%, 7%, 5% and 3% respectively.

By investor types, investment funds bought up 59% of the issue, followed by banks (17%), private banking entities (14%) and insurance companies and pension funds (9%).