Iberdrola signs a €2.5 billion credit line with 32 international banks.

This morning, Iberdrola signed a €2.5 billion credit line to continue strengthening its liquidity and diversifying its sources of financing.

The transaction, closed with 32 international banking entities , was 45% undersubscribed, reflecting the banking sector's confidence in the solvency and strategy of Iberdrola, Europe's largest electricity company and one of the two largest in the world by market capitalization.

The credit line has a term of five years , with the option to extend for two more years, and is multi-currency. Its cost is the most competitive of all Iberdrola's lines.

Avangrid, Iberdrola's subsidiary in the United States , has joined the operation, given the significant growth opportunities in the country, which has already become the Group's main investment destination.

During the signing, Iberdrola Chairman Ignacio Galán stated: "This transaction strengthens our ability to continue increasing our investments in grids, renewables, and storage to respond to the strong growth in demand resulting from electrification in countries such as the United States and the United Kingdom. This credit line once again demonstrates the international financial community's complete confidence in our growth strategy, through which we promote energy self-sufficiency and security, economic growth, and societal well-being."

With this transaction, the company strengthens its liquidity , which amounted to €20.9 billion at the end of the first quarter , and consolidates its leadership in sustainable financing by linking its cost to meeting decarbonization goals and aligning its investments in grids, renewables, and storage with the European Union's taxonomy.

BBVA acted as co-coordinator and agent bank, and Bank of America acted as co-coordinator. The sustainability coordinators were BBVA, BNP Paribas, and Credit Agricole. With the agreement signed today, more than 97% of the company's credit lines are sustainable.