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Iberdrola to exchange 5,332 7.5% notes, 2,327 4.75% notes in offer
By Angela McDaniels
Tacoma, Wash., Nov. 12 - Iberdrola SA announced the results of an exchange offer that began Oct. 30.
The company will issue 5,000 series 105 notes due 2022 in exchange for 5,332 7.5% notes due 2015, series 80, and 2,327 4.75% notes due 2016, series 96, according to a company announcement.
Settlement will take place Nov. 13.
The notes acquired in the offer will be canceled, leaving 11,904 series 80 notes and 5,271 series 96 notes outstanding.
The series 105 notes will be issued by Iberdrola International BV and guaranteed by Iberdrola. The series 80 notes and series 96 notes were issued by Iberdrola Finanzas, SA Unipersonal.
Citigroup Global Markets Ltd. is the dealer manager.
Iberdrola is a utility company based in Bilbao, Spain.
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