Iberdrola has closed a €1bn green bond to fund a refinancing of its European onshore wind portfolio.
The Spanish developer said the 10-year bond will be put to work on wind farms commissioned between 2008 and 2012 in the UK, Spain and Portugal.
Iberdrola secured the cash at a coupon payment of 1.125%, which it says is the lowest rate secured by the company for 10-year bonds.
The bond, which was validated by Vigeo Eiris, was four times oversubscribed with two-thirds of the investors operating according to socially responsible mandates.
Image: Iberdrola
