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EDP renewables: winds of change - green bonds, are we financing the future
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The green bond market has been experiencing a significant increase in the past years, this growth is leaving the uncertainty of whether there is a green bond premium or not. Different literature points out the existence of a green bond premium, assuming that investors are willing to pay more for this type of instrument. Based on these facts, this work intends to apply a green bond premium to EDPR’s cost of debt to measure the empirical impact of this premiumonthecompany’scostofcapitalandconsequentlyshareprice,whileunderstanding if EDPR should issue this type of bonds.
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Valuation Finance