Iberdrola's EUR 750m Green Bond Success
- Iberdrola's EUR 750 million green bond oversubscribed by 220 investors, showcasing market confidence in the utility's sustainable projects and financing strategy.
Iberdrola SA has successfully issued a EUR 750 million green bond with a coupon of 3.625% and a ten-year maturity. The demand for the bond exceeded EUR 4 billion from over 220 investors, resulting in a credit spread of 83 basis points over the benchmark. The proceeds from the bond will be used to fund eligible green projects as defined in Iberdrola's Green Financing Framework.
Nine banks participated in the placement, including BBVA, Bank of America, and HSBC. This issuance will help Iberdrola strengthen its liquidity in anticipation of potential market volatility after the summer. The utility has recently issued other green bonds and hybrid bonds as part of its financing plan for the year.
Overall, Iberdrola has already executed most of its financing plan for the year satisfactorily. The successful placement of the green bond reflects investor confidence in the company's commitment to sustainable projects and its ability to access capital markets effectively.
What was the demand for Iberdrola's recent green bond issuance?
- The demand for Iberdrola's recent green bond issuance exceeded EUR 4 billion
- Over 220 investors participated in the bond offering
- The credit spread for the bond was 83 basis points over the benchmark
- Nine banks, including BBVA, Bank of America, and HSBC, participated in the placement
- The proceeds from the bond will be used to fund eligible green projects as defined in Iberdrola's Green Financing Framework
- This issuance will help Iberdrola strengthen its liquidity in anticipation of potential market volatility after the summer
- Iberdrola has already executed most of its financing plan for the year satisfactorily
- The successful placement of the green bond reflects investor confidence in the company's commitment to sustainable projects and its ability to access capital markets effectively.