Alphavalue / Divacons | The Spanish utility yesterday completed a A$750 million (approximately €460 million) green bond issue to finance its renewable development in Australia. According to the company, it is the first non-financial Spanish company to issue in this market known as ‘Kangaroo’.
The issue was made in two tranches: A$350 million (€215 million) for six years and A$400 million (€245 million) for 10 years. Demand reached A$2.1 billion in aggregate, implying an oversubscription of 2.80 times. Thanks to the strong investor interest, the weighted average cost of the operation has been set below 5.65%, for an average maturity of more than seven years.
