CIE Automotive wanted to benefit from BBVA’s experience and advice in its first sustainable financing with a commercial bank. The international industrial group formalized an €80 million bilateral sustainable loan with the bank.
Atlantic Copper, with the support of BBVA, has made its debut in the sustainable financing market by drawing up of two bilateral financing deals worth a combined total of €44 million. This activity confirms both companies’ strategic commitment to become aligned with the Sustainable Development Goals (SDGs) and Agenda 2030.
BBVA USA is taking its small business-focused initiative to the Rocky Mountains, announcing today the beginning of its Entrepreneurial Opportunity Contest in the Denver area.
- Contest: The initiative with The Business Journals was first held in four markets in the first part of the year.
- Criteria: Businesses with innovative services, products, or business model submit their entry for a chance to be selected as finalists and pitch to a panel of judges.
- Prize: The winning business will be awarded $10,000 and an opportunity to compete for $50,000 at the final event in Phoenix against previous winners in other markets.
The agribusiness company COFCO International has signed the first syndicated sustainability-linked facility arranged by a Chinese corporate with the help of BBVA. The financing is for a total of $2.1 billion comprising three tranches – a 1-year revolving credit facility (RCF), a 3-year RCF and a 3-year term loan – each tied to sustainability criteria.
Just months after announcing its plan to realign its global brand, BBVA USA introduced a newly updated Premium Checking account, intended to deliver on the bank’s commitment to provide global products and services, an improved user experience, and solutions that help customers make better financial decisions.
- Newly updated account reflects updated brand strategy: BBVA’s global focus on transparency and simplicity are reflected in the product’s new features and benefits
- A simpler, more transparent product: The new Premium Checking account is streamlined with simpler qualifying criteria and expanded benefits
- Lower monthly fees, more easily avoided: BBVA’s relationship program and private bank were also notable reasons for the bank’s designation.
BBVA Group executive chairman Carlos Torres Vila defended the role of education in general and financial education in particular to fight poverty and enhance people’s well-being. “Education in general is the best driver to end inequality and promote a sustainable development. It’s the simplest way to bring the age of opportunity to everyone – especially those who are most vulnerable,” he said on the second day of the BBVA EduFin Summit 2019 being held in Madrid.
BBVA – with Deloitte and PCS acting as independent third parties – has completed the first issuance of securitized bonds in Spain, which will be registered with the ESMA (European Securities and Markets Authority) as Simple, Transparent and Standardized (STS). With this securitization, BBVA takes advantage of European regulation in force since January 1 that will confer preferential capital treatment to financial institutions issuing STS securitizations.
Credit rating agency Fitch has upgraded BBVA’s senior preferred debt long-term rating by one notch to A from A-. Fitch has also affirmed the Group’s long-term Issuer Default Rating at A- with a negative outlook, thanks to the strength of the bank in Spain and the resilience of its Mexican franchise.
BBVA is Spain’s most transparent financial institution, according to ‘Contribution and Transparency 2018‘, a report published by Fundación Compromiso y Transparencia (Commitment and Transparency Foundation). In the benchmark report, which lists all IBEX 35 companies according to their fiscal transparency practices, BBVA takes the fourth spot.
BBVA has closed the transfer of most of the credits rights that comprise the Anfora portfolio. The transaction was announced in December 2018.
Continuous innovation and the gradual decline of the use of cash are giving way to a new digital monetary system. According to José Manuel González-Páramo, executive director and head of global economics and public affairs at BBVA, central banks must define the new role they will play coming out of this transformation.
The Legal 500, a leading international legal publication, has named the industrial and intellectual property team of BBVA’s corporate legal services as one of the 100 most relevant legal advisories in Spain and Portugal. The study lists BBVA under the finance category, along with companies from other sectors such as the utility, hospitality, healthcare and IT industries.
José Manuel González-Páramo, Executive Board Member and the Head of Global Economics, Regulation and Public Affairs at BBVA, attended a reception for the Carolina Foundation’s 2018-2019 scholarship recipients. There he explained the changes that could affect jobs in this age of constant digital transformation and stressed BBVA’s commitment to Latin America.
BBVA’s Group executive chairman announced today that the bank’s goal is for all products to offer a sustainable option – both for large corporations and institutions, and SMEs and individual customers. The bank plans to reach this goal throughout 2020 for its main products sold in Spain.
BBVA executive chairman Carlos Torres Vila met today with Mexican President Andrés Manuel López Obrador at the National Palace in Mexico City. Torres Vila conveyed BBVA Group’s commitment with Mexico to the Mexican president and announced an investment of 63 billion pesos (about €2.9 billion at today’s exchange rate) for the 2019-2024 period. During that time, BBVA will continue to contribute to Mexico’s economic growth by providing loans to families and businesses.
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.