iberdrola It closed its ten-year green bond issuance on the Euromarket totaling €850m this Tuesday.As reported to the National Securities Market Commission (CNMV).
Specifically, the maturity of these bonds was set on July 13, 2033, with an annual coupon of 3,625% per annum, at 99.695% of their issuance price face value.
According to the data provided by the company; 142 investors participated in this numberdistributes placements in France (34%), Germany-Austria (21%), BeneLux (17%), the United Kingdom (16%) and other European countries (12%).
This transaction, which is included in Iberdrola’s medium-term bond issuance program, was mostly (87%) among ESG investors, so the business “continues to diversify its investor base and expand demand, which improves the conduct of these operations in challenging market conditions.”
The Spanish company underlined the strong demand for these bonds in excess of €2,000 million and announced that the credit spread was set at 60 basis points over the relevant reference (medium swap in that decade), the “very “narrow” level that allowed the coupon to be set at 3,625%.
It is not the first time that Iberdrola has entered the fixed income market in Europe in March and November of last year. From this new transaction, the company wanted to highlight “well received among investors”.
Thus, the Spanish enterprise conducted its second ever public operation this year, before presenting the results of the first half and after the hybrid bonds issued in January.
According to documents submitted to the CNMV, the guarantor has sought the independent opinion of Moody’s Investors Service Limited to certify that the green financing framework of these bonds complies with the principles set by the International Capital Markets Association.
With this new issue, the company headed by Ignacio Sánchez Galán “continues to consolidate its leadership in sustainable finance”It has a volume of more than 50,000 million Euros in active operations, of which approximately 18,500 million Euro is green bonds (including this new operation).
A total of eight banks participated in the placement: Barclays, Citi, Crédit Agricole, Deutsche Bank, Goldman Sachs, Sumitomo, JP Morgan and Unicaja-Kenta Capital.