Iberdrola successfully issues a €1.5 billion green bond amid strong investor demand

Iberdrola has successfully completed a €1.5 billion European senior green bond issuance, structured in two tranches with maturities of four and ten years, as reported to the Spanish National Securities Market Commission (CNMV).

The transaction attracted strong investor demand, exceeding €4.5 billion — three times the amount issued — allowing pricing to be tightened significantly from the initial guidance. More than 330 qualified international investors participated in the transaction, primarily from France (23%), the United Kingdom (22%), and Spain and Portugal (16%).

The first tranche, totalling €750 million and maturing in June 2030, carries a coupon of 3.125%. The second tranche, also for €750 million, matures in June 2036 and carries a coupon of 3.75%.

As with previous issuances, this transaction complies not only with the ICMA Green Bond Principles but also with the European Union’s new Green Bond Standard.

The proceeds will be used to finance network investments in Iberdrola’s core markets, as well as to refinance selected renewable energy projects, in line with the priorities set out in the company’s strategic plan. Through this issuance, Iberdrola continues to strengthen its commitment to expanding electricity network infrastructure — a key enabler of electrification — while pursuing selective growth in renewable energy.

The transaction highlights the company’s strong access to capital markets and its ability to take advantage of favourable market conditions.

HSBC and Santander acted as Global Coordinators, while CaixaBank, Crédit Agricole, Intesa Sanpaolo, Natixis, NatWest and Scotiabank acted as Active Bookrunners.

The level of demand and the final terms achieved once again reflect investors’ confidence in the strength of the Group’s business model and growth strategy.