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Iberdrola issues bonds for 600 million euro

Published on Oct. 17, 2011

 
Iberdrola issues bonds for 600 million euro

Iberdrola has placed a €600 million issue of 4-year eurobonds maturing in January 2016. With this issue, the company reopens the private debt market with this bond issue. Its strong international presence and improving conditions after the extreme volatility that emerged during the summer have facilitated the operation.

The issue has been placed between 300 investors of more than 15 countries and has had strong demand, equivalent to 4.500 million euro. Of the total takeup, 85% was from abroad.
 

Coupon was set at 4.75%, in line with all Group bond issues over the past two years which have been below 5%. Lead arrangers were BBVA, Deutsche Bank, Goldman Sachs International, ING Bank NV, Merrill Lynch International and Mizuho International.

This latest bond issue comes after Standard & Poor’s improved Iberdrola’s outlook to stable from negative, based on the positive trend in the company’s credit metrics with additional room for improvement over the medium term, despite adverse market conditions and the negative impact of Spain’s tariff deficit.

S&P attributes the improvement in Iberdrola’s financial fundamentals to strong results, revenue from low-risk regulated businesses, lower investments and introduction of a scrip dividend.

 

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Iberdrola

IBERDROLA es el primer grupo energético español, una de las cinco mayores compañías eléctricas del mundo y líder mundial en energía eólica. Cuenta ...

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