Raw: [
Global energy and electricity provider Iberdrola announced that its has raised $525 million in a […]]
Iberdrola Raises $525 Million in Green Bond Offering to Invest in U.S. Network – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Energy Transition/ Sustainable Finance
Iberdrola Raises $525 Million in Green Bond Offering to Invest in U.S. Network
Mark Segal
August 9, 2024
Global energy and electricity provider Iberdrola announced that its has raised $525 million in a new green bond issuance through its U.S. business Avangrid’s subsidiary New York State Electricity and Gas, with proceeds aimed at boosting the company’s U.S. network business.
According to Iberdrola, demand for the 10-year offering was strong at more than $2 billion, enabling the company to bring the cost of funding down to 5.332%, only 135 basis points over the benchmark interest rate.
In a statement by the company following the offering, Iberdrola said:
“Investor confidence in Iberdrola is at an all-time high and the issue had the added incentive of being green, which attracts a growing number of investors. Iberdrola thus paid a minimal new issue premium.”
The offering marks the latest in a series of sustainable finance transactions for Iberdrola, including three other green bonds since the start of the year, a €500 million green loan announced earlier this month, and additional green loans recently announced with the European Investment Bank (EIB) and World Bank. Overall, Iberdrola has approximately €23 billion in green bonds outstanding.
Iberdrola announced plans earlier this year for a major electrification-focused investment program, pledging to allocate €41 billion in its network and renewable energy from 2024 through 2026, with approximately 60% allocated to network-based growth including distribution and transmission, and with more than 40% of the investment anticipated to be allocated to the U.S.
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Energy Transition /
Microsoft Partners with Pivot Energy to Develop Community Solar Projects to Help Tackle Scope 3 Emissions
Sustainable Finance /
BBVA Achieves Record $28 Billion Sustainable Finance Activity in Q2 2024
Energy Transition /
JERA Nex Enters U.S. Solar Market with 395 MW Acquisition
‹ Microsoft Partners with Pivot Energy to Develop Community Solar Projects to Help Tackle Scope 3 Emissions
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Iberdrola Raises $525 Million in Green Bond Offering to Invest in U.S. Network
BBVA Achieves Record $28 Billion Sustainable Finance Activity in Q2 2024
Citi, IFC Launch $2 Billion Sustainable Supply Chain Finance Program for Emerging Markets
MUFG Releases New Sustainable Finance Framework
Government
SEC Defends its Climate Disclosure Rule in Court
UK to Introduce Law to Regulate ESG Ratings Providers
EU Commission Publishes CSRD FAQ to Help Companies Implement New Sustainability Reporting Rules
UK Sets Largest-Ever £1.5 Billion Budget for Renewable Energy Auction, Largely Targeting Offshore Wind
Categories
Select Category
Business Wire
ESG News
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy