Iberdrola launches a green bond issue for an amount close to 400 million

MADRID, 30 Nov.

Iberdrola launches a green bond issue for an amount close to 400 million


Iberdrola Finanzas has launched this Wednesday an issue of green bonds referenced to the value of Iberdrola shares for an approximate amount of 400 million euros, the company has informed the National Securities Market Commission (CNMV).

The maturity term of the bonds will be five years and the payment obligations will be guaranteed by the company.

The bonds will incorporate an option, which may be exercised by their holders during a period of time close to their expiration, for which they will receive a payment in cash that will be determined based on the evolution of the price of the Iberdrola shares.

No new shares of Iberdrola or of any other group company will be issued when the bonds are redeemed at maturity.

A series of international banks will be in charge of placing these green bonds, for which their admission to trading on the open market of the Frankfurt Stock Exchange will be requested.

Simultaneously with the issuance of the bonds, Iberdrola Financiación will contract with another international bank, as a hedge option bank, call options payable in cash in order to cover the exposure to any payment that must be made derived from the exercise of the option by the holders of the bonds. the bonds.

The hedging option bank has informed Iberdrola that said entity or others belonging to its group expect to carry out hedging operations to cover their exposure under the aforementioned purchase options, including operations during the calculation period established for price determination. of reference of the actions. This price will be taken as a reference to establish the conversion price of the bonds.