Spain-based Iberdrola has issued AUD 750 million (~$484 million) in green bonds, becoming the first non-financial Spanish company to achieve this in Australia. According to Iberdrola, the issuance occurred in two tranches: AUD 350 million (~$226 million) for six years at a 5.38% coupon and AUD 400 million (~$258 million) for ten years at a 5.87% coupon. The offering attracted AUD 2.1 billion in demand, 2.8 times the offered amount, with a weighted average cost below 5.65% and an average life exceeding seven years. Proceeds will support Iberdrola’s renewable energy projects in Australia. Over 80 long-term investors, primarily from Australia and Asia, participated. The issuance aligns with Iberdrola’s 2024 strategy to diversify funding and expand internationally. The deal was facilitated by Deutsche Bank, Mizuho, ANZ, Sumitomo, and MUFG.
Iberdrola issues AUD 750M green bonds in Australia
More than 80 long-term investors, including Australian and Asian entities, participated in the green bond issuance. (Image Credit/Source: Pixabay/ Pexels)
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