Clean Power Debt Deals

Iberdrola issued $1.6 billion of green bonds in the U.S. market, its first direct operation there since 2009. Demand exceeded $5 billion, more than three times the amount issued, with 116 investors participating, including many of the largest U.S. financial institutions.

The funds will finance or refinance electricity network assets, mainly transmission, and renewable facilities in the United States, where Iberdrola expects annual investments of $5 billion in the coming years. The issuance, aimed at institutional investors inside and outside the United States, has two $800 million tranches maturing in November 2029 and November 2033, with fixed coupons of 5.40% and 5.85%.

As U.S. grid and renewable demand grows, the deal signals how green-labeled debt can also draw investors to power infrastructure while giving utilities another financing channel.