Iberdrola closes €1bn green bond issuance

Spanish utility company Iberdrola S.A. closed an issuance of €1bn in green bonds priced at 99.943% of their nominal value. Proceeds would be utilized to refinance its onshore wind park assets in Spain, Portugal and the UK.

Green bonds are issued to fund projects that have positive environmental and/or climate benefits.

The notes pay an annual coupon rate of 1.125% and mature on 21 April 2026.

Lenders to the notes are as follows:

  • Banca IMI SPA
  • Banco de Sabadell SA
  • BNP Paribas
  • Caixabank SA
  • Citigroup Global Markets Ltd
  • HSBC Bank Plc
  • Merrill Lynch International
  • Mizuho International Plc
  • The Royal Bank of Scotland Plc

Source: SeeNews


Abengoa to sell 70mw wind farm in Uruguay to Invenergy

Spanish renewable energy firm Abengoa S.A., commenced sale of its 70mw Campo Palomas wind energy farm in Uruguay to Invenergy Wind LLC for a total consideration price of $37.5m which it would utilize to pay off debt on the plant. The company had outlined this plant as part of its planned divestitures.

Abengoa would continue constructing the $49m plant which was awarded by state-owned firm Electric Power Plants & Transmissions (UTE). Commercial operations at the plant would commence by February 2017.

Invenergy secured financing from Inter-American Investment Corp. DNB served as mandated lead arranger and a participant in the B-loan. Voltiq advised the company on the debt transaction.

Source: SeeNews