Telefónica keeps green hybrid hotline ringing

mobile tower 5G adobe stock 575x375
By Mike Turner
03 Feb 2021

Telefónica, the Spanish telecommunications company, showed the depth of demand for green hybrids on Wednesday, with a seven times oversubscribed trade that came a day after a similarly successful deal from compatriot issuer Iberdrola.

Telefónica, rated Baa3/BBB-/BBB and printing hybrid debt at Ba2/BB/BB+, opened books on a euro benchmark sized green hybrid perpetual non-call 8.25 at 3.125%. 

The deal followed a day after utility Iberdrola attracted €9.5bn for a €2bn dual tranche green hybrid

“It’s a bit of a perfect storm,” said a ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial