Spanish utility Iberdrola priced its EUR600M 2016 bond issue, one of the banks running the deal said Thursday.

BBVA, Bank of America Merrill Lynch, Deutsche Bank AG, Goldman Sachs Groups Inc., ING Groep N.V., and Mizuho Financial Group Inc., are the lead managers on the transaction.

 
Amount:           EUR600 million 
Maturity:         Jan 21, 2016 
Coupon:           4.75% 
Reoffer Price:    99.682 
Payment Date:     Oct 25, 2011 
Spread:           290 basis points over midswaps 
Debt Ratings:     Aaa (Moody's) 
                  AAA (Standard & Poor's) 
                  AAA (Fitch)

-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; serena.ruffoni@dowjones.com