Iberdrola secures USD 525m from green bond sale in US market

Spanish utility Iberdrola SA (BME:IBE) said on Wednesday that it has issued a ten-year green bond through its US regulated electricity network business New York State Electric & Gas Company (NYSEG), raising USD 525 million (EUR 480.6m).

The bond was met with strong investor demand, with orders exceeding USD 2 billion, enabling the utility to secure a favourable interest rate of 5.332%.

The proceeds from the issuance will be used to bolster Iberdrola’s network business in the United States.

Iberdrola tapped BNP Paribas, MUFG, Wells Fargo, Santander, SMBC, Intesa, and Commerzbank to manage the offering in the US market.

The NYSEG bond is Iberdrola's fourth issuance this year, adding to the hybrid bond in January, a placement in the Swiss market at the end of June, and a senior bond issued in July.

(USD 1.0 = EUR 0.915)

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