H-TEC to supply 1-MW electrolyser for H2 mobility scheme in Spain
Sep 17, 2024 11:56 CESTIberdrola SA (BME:IBE) has issued a green bond for EUR 750 million (USD 811.4m) with a coupon of 3.625% and ten-year maturity.
The demand for the bond reached over EUR 4 billion from more than 220 investors, resulting in a credit spread of 83 basis points over the corresponding benchmark, the Spanish utility said.
The proceeds from this issuance will be used to fund eligible green projects, as defined in Iberdrola's Green Financing Framework.
Nine banks participated in the placement -- BBVA, Bank of America, HSBC, Kutxabank Investment Norbolsa, Mizuho, Natixis, Standard Chartered, Unicredit, and Wells Fargo.
Iberdrola said that the transaction will enable it to strengthen its already cushy liquidity, in anticipation of a potential increase in market volatility after the summer.
Just weeks ago, the utility issued a multi-million-euro green bond in Swiss francs. Before that, it raised EUR 700 million from the issuance of hybrid bonds.
Iberdrola now says that most of its financing plan for the year has already been “satisfactorily executed”.
(EUR 1.0 = USD 1.082)
H-TEC to supply 1-MW electrolyser for H2 mobility scheme in Spain
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