Iberdrola issues EUR-1.5bn green bond

November 17 (Renewables Now) - Spanish utility Iberdrola SA (BME:IBE) has issued green bonds worth EUR 1.5 billion (USD 1.55bn) in two equally-sized tranches on the European market, it said.

The coupon was set at 3.125% for the EUR-750-million first tranche maturing in six years, and at 3.375% for the second tranche expiring in ten years.

Ten banks participated in the placement -- JP Morgan as the coordinator, Caixabank, Citi, Commerzbank, Credit Agricole, Deutsche Bank, Morgan Stanley, MUFG, Natwest and Royal Bank of Canada.

Iberdrola said that the demand for its notes exceeded EUR 5.3 billion.

The proceeds will be used to finance eligible green assets in line with Iberdrola’s green financing framework, the utility said.

(EUR 1.0 = USD 1.036)