March 14 (Renewables Now) - Spanish utility Iberdrola SA (BME:IBE) has issued a EUR-1-billion (USD 1.1bn) green bond to finance its offshore wind projects in Europe.

The company said it secured a coupon of 1.375% for the ten-year bond. Bank of America Corp (NYSE:BAC), Citibank, BNP Paribas SA (EPA:BNP), HSBC Holdings plc (LON:HSBA), BBVA SA (BME:BBVA), Banco Santander SA (BME:SAN), Sumitomo Corp (TYO:8053), Intesa Sanpaolo SpA (BIT:ISP) and ING (NYSE:ING), participated in the placement, which drew demand exceeding EUR 3 billion, according to Iberdrola.

The proceeds will be used to partially finance the company’s investments in offshore wind, namely the 496-MW Saint Brieuc project off the coast of France and the 476-MW Baltic Eagle in German waters.

(EUR 1.0 = USD 1.098)

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