Link Securities | On Wednesday, the electricity company signed a €2.5 billion credit facility with 32 international financial institutions, a transaction that was oversubscribed by 45%. The credit facility, which will have an initial term of five years, extendable for another two years, has multi-currency terms and has been secured at the most competitive cost of all the facilities currently available to the company.
With the agreement signed, more than 97% of the total amount of the company’s credit lines is now sustainable, as it is linked to decarbonisation targets and alignment with the European taxonomy. Avangrid, IBE’s subsidiary in the US, is also participating in this operation, in line with the growing importance of that market, which has become the energy group’s main investment destination.
