Atlantica Sustainable Infrastructure launches $400 million green notes at 4 1/8%; pricing Thursday

By Paul A. Harris

Portland, Ore., May 13 – Atlantica Sustainable Infrastructure plc launched a $400 million offering of seven-year green notes (BB+/BB+) at 4 1/8% on Thursday, according to market sources.

The deal is expected to price on Thursday.

The offering was talked to yield 4 1/8% to 4 3/8%. Initial guidance is in the mid-4% area.

Joint bookrunner RBC will bill and deliver. BofA, JPMorgan and MUFG are also joint bookrunners.

BMO, CIBC, NBC and Santander are the co-managers.

The Rule 144A and Regulation S for life notes become callable after four years at par plus 50% of the coupon.

The infrastructure company, which is based in the United Kingdom, plans to use the proceeds to refinance its notes issuance facility agreement due 2025 and to fund eligible green projects.

Atlantica Sustainable Infrastructure focuses primarily on renewable energy.

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