US energy company Avangrid has issued notes expected to raise $750m to finance and refinance renewable energy projects in the North American country.
Avangrid said the proceeds would got to onshore and offshore wind, solar, concentrated solar, as well as transmission and distribution networks that connect new renewable output.
Citigroup Global Markets, Credit Agricole Securities (USA), MUFG Securities Americas, Wells Fargo Securities, BBVA Securities, Deutsche Bank Securities, NatWest Markets Securities and TD Securities (USA) are acting as joint book-running managers of the offering.
Credit Agricole Securities (USA) is the green structuring agent.
The notes, which are due on 1 June 2029, will be direct unsecured and unsubordinated obligations of Avangrid.
The offering is expected to close on 16 May.
A note is a legal document that serves as an IOU from a borrower to a creditor and typically obligates the issuer to repay its creditor the principal loan plus any interest on a predetermined date.