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Photo via Iberdrola
Iberdrola issues $487m green bonds to fund Aussie projects
This was in two tranches with six-year and ten-year terms, respectively.
Iberdrola raised US$487m (AU$750m) through a green bond issuance in Australia, becoming the first non-financial Spanish company to do so. The funds will be used for renewable energy projects in the country.
In a statement, the company said the issue was in two tranches – US$227m (AU$350m) for a six-year term and US$260m (AU$400m) for a 10-year term – with demand reaching US$1.36b (AU$2.1b), meaning it was oversubscribed by 2.8.
The issuance attracted over 80 investors, which include those from Australia and across Asia.
The banks involved in the placement were Deutsche Bank, Mizuho, ANZ, Sumitomo and Bank of Tokyo-Mitsubishi.
US$1 = AU$1.54
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