Iberdrola's Successful CHF 335m Green Bond Debut

Jun 26, 2024 01:26 PM ET
  • Iberdrola SA's successful CHF 335 million green bond sale in Switzerland showcases strong investor demand and lower interest rates, supporting green projects in line with their financing framework.

Spanish utility Iberdrola SA has successfully raised CHF 335 million in its first ever green bond sale in Switzerland. The funds will be used for green projects in line with Iberdrola's green financing framework. The company highlighted strong investor demand, allowing it to secure lower interest rates than expected.

The bond was split into two tranches, with a four-year tranche of CHF 145 million at an interest rate of 1.38% and a seven-year tranche of CHF 190 million at 1.56%. UBS and Deutsche Bank were the coordinating banks for the issuance. This marks Iberdrola's first Swiss franc bond sale since 2012 and its first involving green bonds in that market, taking advantage of favorable rate levels following a policy rate cut by the Swiss National Bank in June.

What were the details of Iberdrola SA's successful green bond sale in Switzerland?

  • Iberdrola SA raised CHF 335 million in its first green bond sale in Switzerland
  • Funds will be used for green projects in line with Iberdrola's green financing framework
  • Strong investor demand allowed the company to secure lower interest rates than expected
  • The bond was split into two tranches: a four-year tranche of CHF 145 million at 1.38% interest and a seven-year tranche of CHF 190 million at 1.56% interest
  • UBS and Deutsche Bank were the coordinating banks for the issuance
  • This marks Iberdrola's first Swiss franc bond sale since 2012 and its first involving green bonds in that market
  • Iberdrola took advantage of favorable rate levels following a policy rate cut by the Swiss National Bank in June.
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