BBVA has been the global coordinator and sustainable co-agent of Iberdrola’s new  €2.5 billion multi-currency syndicated loan. This operation, which was linked to two sustainable indicators, constitutes an industry milestone as it´s referenced to Risk Free Rates (RFR), which replace LIBOR and which will serve as a model for future financing in Spain. It’s also a unique transaction since Iberdrola has committed to donating part of its adjusted margin to sustainable projects.

BBVA and Funespaña formalized a sustainability-linked loan with KPI metrics, becoming the first case of sustainable financing in the Spanish funeral sector which will include three sustainability indicators. The seven-year financing in which the fixed interest rate that the company will pay depends on the fulfillment of three indicators, one environmental and two social. To carry out the operation the bank acted as a sustainable coordinator and Valora as a sustainable consultant.

If the context in which banks and companies interacted last year was already complicated due to the political and economic uncertainty, combined with the low interest rate scenario, the arrival of the COVID-19 pandemic last March further complicated this context by forcing nearly everyone into lockdown. Investment banks were a key component for the survival of large corporations. Jose Ramón Vizmanos, the Head of Global Client Coverage at BBVA Corporate & Investment Banking, explained this to the financial newspaper Cinco Días in an interview this summer.

BBVA and Grupo Piñero agreed three sustainable bilateral financing deals on behalf of Levantur. These are the first sustainable bilateral loans to be guaranteed by Spain’s Official Institute of Credit (ICO). The Spanish tourist Group will use the financing for liquidity and working capital needs arising from the economic impact caused by the COVID-19 pandemic.

BBVA and Acerinox make history by closing the first sustainable transaction in the steel industry in Spain. The deal, a bilateral loan totaling €80 million with a maturity of five years, is intended to partially finance the Acerinox acquisition of VDM Metals.

BBVA, acting as sole sustainability coordinator, has advised the German energy company EnBW to incorporate environmental and  social criteria into its core bank financing. This characteristic underscores the company’s sustainable commitment. The financing agreement turns EnBW into one of the first corporations in the world to include sustainability across its entire financing spectrum. EnBW has issued three hybrid bonds and one green bond since 2018; BBVA acted as active bookrunner in the green bond and in one of the hybrids.

Dillan Knudson has taken somewhat of a circuitous route throughout his career in the financial industry – and beyond – leading to his recent appointment as BBVA Houston CEO.

Beachbox Hotelco has become the first company in Spain’s hospitality sector to sign a sustainable project finance loan to finance the construction of the Six Senses Ibiza hotel. BBVA served as sustainable coordinator in the €55 million syndicated loan for the financing of the project. BBVA and Caixabank will each contribute 50 percent of the funds.

Grupo Piñero, a Spanish group dedicated to the vacation industry, closed a bilateral sustainable financing deal with BBVA. The bank acted as the sustainability coordinator. The agreement involves a €20 million revolving credit facility (RCF), which is aligned to the tourism company’s firm commitment to holistic and long-term strategic sustainability.

BBVA is consolidating its leadership in Europe’s green financing market by signing a EUR 25 Mn bilateral green loan with Katoen Natie, a Belgian logistics and engineering company. This transaction represents an important landmark as it is the first green financing closed in Belgium by BBVA. Furthermore, BBVA is not only acting as lender but also as advisor on their Sustainable Finance Framework. The loan is in favour of a subsidiary of Katoen Natie for an innovative industrial recycling plant which will result in the recycling of chemical residues while also recovering materials and producing energy for neighboring industries.

Redexis has made its €300 million syndicated revolving credit facility sustainable by extending its maturity profile, reducing the average cost of its debt and reinforcing its socially responsible commitment. BBVA acted as sustainable coordinator in this transaction, the first ever by the Spanish energy infrastructure company in the sustainable financing market.

BBVA acted as a sustainable agent, together with Santander, in ACCIONA’s first sustainable syndicated loan of €675 million. In this type of financing, the interest rate is adjusted based on the company’s performance in sustainability parameters.

In line with its digital transformation strategy, BBVA has launched a new form of corporate loan, the digital facility (D-Loan), and signed the first ever financing of this kind with Olam International, a leading food and agri-business company headquartered and listed in Singapore. As provider of this innovative solution, BBVA acted as digital advisor and coordinator under the new USD 350 million revolving credit facility. BBVA was also the facility agent for the other 6 banks that participate in the financing.

Digital loans (or D-loans) are a type of corporate bank financing (which could also come in the form of credit facilities) for which the price is linked to the company’s degree of digitization. The digital maturity level is determined annually by specialized independent consulting firms after a thorough analysis. If the company improves its level of digitization, the conditions of the bank financing also improve. By doing so, the company aligns its financial instruments with its corporate strategy, and has a financial incentive to improve its degree of digitization and accelerate its digital transformation over time.

Iberdrola has successfully signed, with BBVA acting as lead arranger and sustainable agent, a new €1.5 billion multi-currency syndicated credit facility linked to sustainability criteria. This is the first transaction aligned with the ‘just transition’ concept, introduced in the Paris Agreement.

BBVA recently structured the first sustainable loan in RCF format in Spain’s hotel industry. The €65 million credit line with Meliá Hotels International is an example of the Balearic group’s commitment to the fight against climate change.

BBVA signs with the French electricity company EDF a €300 million sustainability-linked revolving credit facility (RCF) which incorporates a pricing adjustment based on the company’s sustainability performance linked to CO2 emissions and energy efficiency.

BBVA Compass has named banking industry veteran James Ligman as its Orange County City President, bolstering the bank’s California presence by promoting from within.

BBVA and Gestamp have restructured an existing €280 million revolving credit facility, changing the terms so it qualifies as a sustainable operation and increasing the total value to €325 million. With this operation, the multi-national engineering company dedicated to the design, development, and manufacturing of metal components for the automotive industry becomes the first in its sector to be certified by the environmental consulting firm Vigeo-Eiris for closing a financing deal of this kind. BBVA acted as the deal’s sustainability coordinator.

This open-source blockchain platform has made its way into different sectors of the economy and aims to become the blockchain technology standard in the world of business. BBVA is an official member of the Hyperledger consortium and has used its technological platform to manage blockchain-powered corporate loans.

Advances in technology contribute to economic progress and have a direct, long-term impact on society’s well-being. Clearly, digital transformation creates opportunities that improve both our lives and our businesses. BBVA shares this view: the bank has made a commitment to new technologies such as blockchain, which allow it to offer innovative financing approaches to its corporate clients.

Last year, a product that had been practically unheard of took the world of corporate financing by storm: green loans. These are loans aimed at advancing environmental sustainability and until quite recently came under the umbrella of Green Bond Principles. As of a few months ago they now have their own guidelines known as Green Loan Principles.

Having successfully carried out the first pilots in the world of a loan and a corporate credit facility using blockchain, BBVA has signed a new loan with ACS using this technology. The deal shows that BBVA Corporate & Investment Banking is continuing to focus on an innovative financing model for its corporate clients.

The European Union continues to redouble its focus on sustainable finances and as part of this strategy the European Parliament last week held a forum attended by the main players in the financial world, among them BBVA through the presence of Antoni Ballabriga, Global Head of Responsible Business at the Bank.

BBVA has successfully completed the first global corporate loan transaction using blockchain technology from the negotiation of the deal to its signing, in line with their close collaboration to leverage cutting-edge technologies to streamline business processes.

BBVA has signed a $400-million-dollar green loan with Iberdrola, the first green corporate loan to be formalized in Latin America. This reasserts BBVA’s commitment to sustainable financing by supporting the development and implementation of financial products in the green format.

Iberdrola has signed two new sustainable syndicated loans for a total of 5.3 billion euros, the largest ever signed globally. BBVA has led these transactions by acting as a sustainable agent.

BBVA has acted as a Green Agent for a green credit in the amount of 800 million euros for Red Eléctrica España S.A. (“REE”). This is the first syndicated green revolving credit facility in Spain, and also the first of its kind in the electric utilities sector.

BBVA Compass has closed a $5 million equity investment in Pathway Lending, becoming the largest investor in Alabama’s effort to build up small businesses in the state’s Appalachian region. Pathway Lending, a Community Development Financial Institution certified by the U.S. Department of Treasury, will operate the state’s new loan fund for small businesses in the 37 counties of Appalachian Alabama.