Iberdrola weans itself off Libor in new €2.5bn SLL

Adobestock_Iberdrola HQ_575x375_Feb21
By Mike Turner
22 Apr 2021

Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.

The five year facility comes with two one year extension options. It can be drawn in multiple currencies.

While euros will continue to use Euribor as a benchmark, other currencies, including sterling and dollars, which use Libor as a benchmark, is being phased out from the end of this ...

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