Bonds overview
All the information on the bonds issued by Iberdrola
Iberdrola's financial model is based on financing the group primarily from the holding company, that is, through transactions that have the unconditional and irrevocable guarantee of Iberdrola, S.A. This does not preclude the existence of financing transactions that are also carried out from other subholding companies, as is the case of Avangrid and its subsidiaries or Neoenergia and its subsidiaries, in response to regulatory requirements or country risk management reasons.
Iberdrola maintains the commitment to keep the percentage of structural subordination in order to grant its creditors direct access to the cash flows of debt-free subsidiaries wholly owned by the Group, to give high visibility to centralized cash flows (regulated and long-term contracted) and to maintain an essentially centralized treasury, with a very strong liquidity at the holding company level, which allows the extraction of maximum synergies and efficiencies.
Iberdrola covers its financial needs through different instruments and markets, making diversification one of its strengths, which allows it to deepen a solid financial strategy, fundamentally supported by ESG investors and formats and therefore sustainable over time ("ESG + F"). Among the various instruments and markets, loans with banks, other loans granted by multilateral organizations (such as development banks or export credit agencies) and, mainly, fixed-income bonds issued in the capital markets are noteworthy. The latter represent more than 60% of the Group's debt.
A more detailed account of the latter* is given below.
* Instruments issued from the Corporation (with the guarantee of Iberdrola, S.A.).
Bonds issued under the EMTN Programme
Iberdrola conducts the vast majority of its operations in the capital markets under a debt issuance program, the EMTN Programme (Euro Medium Term Notes Programme). Since its set up in 1998, more than 38 billion euros of senior notes have been issued under the EMTN Programme, making it the Group's main financing instrument to date.
The EMTN Programme currently allows a maximum outstanding amount of EUR 30 billion. Since its update in June 2022, the EMTN Programme also allows the possibility of issuing subordinated bonds (hybrids).
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EMTN Programme and related Documentation
- Base Prospectus dated 30 May 2024 [PDF] 2.2 MB
- Supplement to the Base Prospectus dated 30 May 2024 [PDF] 202 KB
- Iberdrola's guarantee [PDF] 55 KB
- Base Prospectus dated 1 June 2023 [PDF] 2,1 MB
- Supplement to the Base Prospectus dated 1 June 2023 [PDF] Enlace externo, se abre en ventana nueva. 123 KB
- Second Supplement to the Base prospectus dated 1 June 2023 [PDF] 117 KB
- Base Prospectus dated 1 June 2022 [PDF] 2 MB
- Supplement to the Base Prospectus dated 1 June 2022 [PDF] 154 KB
- Second Supplement to the Base prospectus dated 1 June 2022 [PDF] External link, opens in new window. 111 KB
- Base Prospectus dated 25 June 2021 [PDF] External link, opens in new window. 1.4 MB
- Supplement to the Base Prospectus dated 25 June 2021 [PDF] External link, opens in new window. 188 KB
- Second supplement to the Base Prospectus dated 25 June 2021 [PDF] 113 KB
- Base Prospectus dated 24 June 2020 [PDF] External link, opens in new window. 1.2 MB
- Supplement to the Base Prospectus dated 24 June 2020 [PDF] External link, opens in new window. 508 KB
- Second Supplement to the Base Prospectus dated 24 June 2020 [PDF] External link, opens in new window. 516 KB
- Base Prospectus dated 25 June 2019 [PDF] External link, opens in new window. 897 KB
- Supplement to the Base Prospectus dated 25 June 2019 [PDF] External link, opens in new window. 315 KB
- Base Prospectus dated 1 August 2018 [PDF] External link, opens in new window. 1.6 MB
- Supplement to the Base Prospectus dated 1 August 2018 [PDF] External link, opens in new window. 177 KB
- Base Prospectus dated 28 July 2017 [PDF] External link, opens in new window. 840 KB
- Supplement to the Base Prospectus dated 28 July 2017 [PDF] External link, opens in new window. 182 KB
- Base Prospectus dated 22 June 2016 [PDF] External link, opens in new window. 1.3 MB
- First supplement to the Base Prospectus dated 22 June 2016 [PDF] External link, opens in new window. 175 KB
- Second supplement to the Base Prospectus dated 22 June 2016 [PDF] External link, opens in new window. 176 KB
- Financial statements of Iberdrola Finanzas for the year 2023 [PDF] 1 MB
- Financial statements of Iberdrola Finanzas for the year 2022 [PDF] 655 KB
- Financial statements of Iberdrola Finanzas for the year 2021 [PDF] 588 KB
- Financial statements of Iberdrola Finanzas for the year 2020 [PDF] External link, opens in new window. 471 KB
- Articles of association of Iberdrola Finanzas [PDF] External link, opens in new window. 180 KB
- Iberdrola By-Laws [PDF] External link, opens in new window. 344 KB
- Annual financial information 2020 [PDF] External link, opens in new window. 15 MB
- Quarterly Results Report 1Q [PDF] External link, opens in new window. 2.6 MB
- Integrated Report [PDF] External link, opens in new window. 14.9 MB
- Sustainability Report [PDF] External link, opens in new window. 14 MB
- Annual Corporate Governance Report [PDF] External link, opens in new window. 1.4 MB
Senior bonds issued under the EMTN Programme
ISIN Code | Outstanding Amount | Issue | Coupon | Maturity | Terms |
---|---|---|---|---|---|
XS1575444622 | 1,000,000,000 EUR | 07/03/2017 | 1.000% | 07/03/2025 | Download [PDF] External link, opens in new window. |
XS1837198156 | 30,000,000 EUR | 13/06/2018 | 1.128% | 13/06/2025 | Download [PDF] External link, opens in new window. |
XS2153405118 | 750,000,000 EUR | 14/04/2020 | 0.875% | 16/06/2025 | Download [PDF] External link, opens in new window. |
XS1490726590 | 700,000,000 EUR | 15/09/2016 | 0.375% | 15/09/2025 | Download [PDF] External link, opens in new window. |
XS1924319301 | 50,000,000 USD | 21/12/2018 | 3.724% | 08/12/2025 | Download [PDF] External link, opens in new window. |
XS1398476793 | 1,000,000,000 EUR | 21/04/2016 | 1.125% | 21/04/2026 | Download [PDF] External link, opens in new window. |
XS1433521884 | 200,000,000 EUR | 16/06/2016 | Euribor 3 month + 0.35% | 16/06/2026 | Download [PDF] External link, opens in new window. |
XS1847692636 | 750,000,000 EUR | 28/06/2018 | 1.25% | 28/10/2026 | Download [PDF] External link, opens in new window. |
XS1615677108 | 1,000,000,000 NOK | 18/05/2017 | 2.70% | 18/05/2027 | Download [PDF] External link, opens in new window. |
XS1682538183 | 750,000,000 EUR | 13/09/2017 | 1.25% | 13/09/2027 | Download [PDF] External link, opens in new window. |
XS2909821899 | 650,000,000 EUR | 30/09/2024 |
2.625% |
30/03/2028 | Download [PDF] |
XS1815308470 | 800,000,000 NOK | 03/05/2018 | 3.01% | 03/05/2028 | Download [PDF] External link, opens in new window. |
XS2558916693 | 750,000,000 EUR | 22/11/2022 | 3.125% | 22/11/2028 | Download [PDF] |
XS1568849282 | 100,000,000 EUR | 20/02/2017 | 1.667% | 10/02/2029 | Download I [PDF] External link, opens in new window. Download II [PDF] External link, opens in new window. |
XS1726152108 | 735,000,000 EUR | 29/11/2017 | 1.621% | 29/11/2029 | Download I [PDF] External link, opens in new window. Download II [PDF] External link, opens in new window. Download III [PDF] External link, opens in new window. Download IV [PDF] External link, opens in new window. |
XS1610777556 | 110,000,000 EUR | 10/05/2017 | 1.782% | 30/10/2030 | Download I [PDF] External link, opens in new window. Download II [PDF] External link, opens in new window. |
XS2840108687 | 70.000.000 EUR | 17/06/2024 | 3.350% | 17/06/2031 | Download [PDF] External link, opens in new window. |
XS2909822194 | 750.000.000 EUR |
30/09/2024 |
3.000% | 30/09/2031 | Download [PDF] |
XS2455983861 | 1,000,000,000 EUR | 11/03/2022 | 1.375% | 11/03/2032 | Download [PDF] External link, opens in new window. |
XS2558966953 | 750,000,000 EUR | 22/11/2022 | 3.375% | 22/11/2032 | Download [PDF] |
XS2648498371 | 850.000.000 EUR | 13/07/2023 | 3.625% | 13/07/2033 | Download [PDF] |
XS2861000235 | 750,000,000 EUR | 18/07/2024 | 3.625% | 18/07/2034 | Download [PDF] |
XS2909822277 | 750,000,000 EUR | 30/09/2024 | 3.375% | 30/09/2035 | Download [PDF] |
XS2915439959 | 1,500,000,000 NOK | 10/10/2024 | 4,592% | 10/10/2036 | Descargar [PDF] |
XS2439701488 | 100,000.000 EUR | 02/02/2022 | 1.000% | 02/02/2037 | Download [PDF] Enlace externo, se abre en ventana nueva. |
Hybrid bonds issued under the EMTN Programme
ISIN Code | Outstanding Amount | Issue | Coupon | Maturity | Terms |
---|---|---|---|---|---|
XS2580221658 | 1,000,000,000 EUR |
25/01/2023 |
4.875% |
Perpetual |
Download [PDF] Enlace externo, se abre en ventana nueva. |
XS2748213290 | 700.000.000 EUR |
16/01/2024 |
4,871% |
Perpetual |
Download [PDF] Enlace externo, se abre en ventana nueva. |
Bonds issued outside the programme
The following bonds have been issued outside the EMTN Programme, under specific stand-alone documentation, being instruments of a special nature (hybrid bonds, or referenced to the share price...), not contemplated at issue date under the EMTN Programme's Terms and Conditions.
Hybrid bonds
Issuer | ISIN Code | Outstanding Amount | Issue / Maturity | Stock Exchange | Prospectus |
---|---|---|---|---|---|
IBERDROLA FINANZAS, S.A.U. | XS2405855375 | 750,000,000 EUR | 16/11/2021 / Perpetual | Luxembourg | Offering Circular [PDF] |
IBERDROLA INTERNATIONAL B.V. | XS2295335413 | 1,000,000,000 EUR | 09/02/2021 / Perpetual | Luxembourg | Offering Circular [PDF] External link, opens in new window. |
IBERDROLA INTERNATIONAL B.V. | XS2295333988 | 1,000,000,000 EUR | 09/02/2021 / Perpetual | Luxembourg | Offering Circular [PDF] External link, opens in new window. |
IBERDROLA INTERNATIONAL B.V. | XS2244941063 | 1,600,000,000 EUR | 28/10/2020 / Perpetual | Luxembourg | Offering Circular [PDF] External link, opens in new window. |
IBERDROLA INTERNATIONAL B.V. | XS2244941147 | 1,400,000,000 EUR | 28/10/2020 / Perpetual | Luxembourg | Offering Circular [PDF] External link, opens in new window. |
IBERDROLA INTERNATIONAL B.V. | XS1890845875 | 800,000,000 EUR | 12/02/2019 / Perpetual | Luxembourg | Offering Circular [PDF] External link, opens in new window. |
Other bonds
Issuer | Identification code | Outstanding amount | Issue / Maturity | Stock exchange | Coupon | Relevant information |
---|---|---|---|---|---|---|
IBERDROLA FINANZAS, S.A.U. | XS2557565830 | 450.000.000 EUR | 07/12/2022 / 07/12/2027 | Frankfurt (Freiverkehr) | 0.80 % | |
IBERDROLA INTERNATIONAL B.V.(1) | US81013TAC53 | 350,000,000 USD | 2025 | - | 5.810 % | Significant events (10/30/2007) Spanish version [PDF] |
IBERDROLA INTERNATIONAL B.V.(2) | 29266MAE9 | 200,000,000 USD | 2033 | - | 6.750 % | Significants events (08/04/2009) [PDF] |
IBERDROLA INTERNATIONAL B.V.(2) | 29266MAF6 | 500,000,000 USD | 2036 | - | 6.750 % | Significants events (08/04/2009) [PDF] |
(1) Nota Obligations issued by Scottish Power and assumed by Iberdrola International B.V. on 10/24/2007.
(2) Nota Obligations issued by Energy East Corporation and assumed by Iberdrola International B.V. on 04/08/2009.