Iberdrola and Clarion ditch Libor from deals on day one of signing

Adobestock_Iberdrola HQ_575x375_Feb21
By Mike Turner
22 Apr 2021

Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.

Iberdrola 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, ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial