Iberdrola has announced this Tuesday that it will carry out a new placement of green bonds denominated in US dollars for a total amount of 1.600 million (1.433 million euros). The operation will be structured in two tranches with maturities of three and seven years, according to what the energy company has notified to the National Securities Market Commission (CNMV).
The first tranche amounts to 800 million dollars (717 million euros), maturing in November 2029 with a coupon of 5.4%.
The second tranche, also for 800 million dollars, will mature in November 2033 and will accrue a coupon of 5.85%.
Regarding the destination of the raised funds, aimed at institutional investors both in the US and other markets, the company explains that they will be used for "eligible green projects in accordance with the eligibility criteria established in Iberdrola's Green Financing Framework."
The closing and disbursement of the operation is scheduled for the next November 4, subject to the fulfillment of the usual suspensive conditions associated with this type of issuance.
The placement of the bonds will be handled by several national and international banks, whose names Iberdrola has not made public.