Telefonica issues green hybrid bond worth €1 billion

Telefonica has announced that it has issued a €1 billion ($1.1bn) green bond to fund its sustainability efforts. The green hybrid bond has a maturity of 7.25 years, and will go toward green projects, procuring renewable energy, and helping the company shut down its obsolete equipment. Further to this, it will also contribute to the deployment and improvement of the network infrastructure through more energy-efficient fiber optics and 5G infrastructure.

This is not the first green bond issued by the company, with the first issued in 2019. Thus far, it has raised close to €17 billion ($18.5bn) in sustainable financing.

The company has outlined its aim that 25% of its financing by 2024 meets the sustainability criteria. Further to this, the interest in this bond exceeded the amount finally issued five-fold.