Iberdrola issues green bonds worth to aid in the COVID-19 crisis

Iberdrola issues green bonds worth to aid in the COVID-19 crisis

Iberdrola has become the first Spanish company to issue green bonds to aid in the response to the COVID-19 crisis, amounting to 750 million euros with a maturity of more than five years (June 2025) to finance and refinance all or part of renewable energy investments in Spain, Mexico and the United Kingdom, most of which are land-based wind farms. With the development and implementation of these facilities, Iberdrola will contribute to the economic recovery and to the protection of employment in this difficult situation.

Green bonds are a type of debt issued by public or private institutions with the condition that the funds obtained are used to finance sustainable projects, that are socially responsible and with a positive impact on the environment.

Within the plan, demand has exceeded 6 billion euros and with the interest rate set at 0.875% in this environment of high volatility in the financial markets. The conditions obtained demonstrate the solidity and robustness of Iberdrola’s solvency, widely appreciated by the group of international investors who have participated in the operation. The bonds have been distributed amongst 227 investors, who are mainly European and also from the UK.

Despite the global uncertainty generated by the coronavirus pandemic, the operation has involved eight international banks of the highest standard.

With this new issue of green bonds, Iberdrola reinforces its commitment to its green strategy, in line with the company’s commitment to a low-carbon energy mix and leading the world’s investment in renewable energy. To date, the Iberdrola Group has issued nearly $11 billion in green bonds since it successfully closed its first placement in 2014.

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