BBVA leads Iberdrola’s new €2.5 billion sustainable credit facility as Agent Bank and Co-Coordinator
BBVA has acted as Agent Bank and Co-Coordinator in a new €2.5 billion syndicated credit facility signed this morning by Iberdrola with a total of 32 international financial institutions. The bank also served as Sustainability Coordinator. The transaction was oversubscribed by 45%, underscoring the strong support from the banking sector for the energy group's strategy.
The credit facility, with an initial maturity of five years and the option to extend for an additional two years, is multi-currency and features highly competitive terms. Its cost is linked to the achievement of decarbonization targets and alignment with the European Union taxonomy, further reinforcing Iberdrola’s commitment to sustainable financing.
Avangrid, Iberdrola’s U.S. subsidiary, has joined the transaction due to the significant growth opportunities in the country, which has become the Group’s primary investment destination.
With this transaction, Iberdrola strengthens its liquidity and consolidates its leadership in sustainable finance, aligning its investments in grids, renewables, and storage with the EU taxonomy. BBVA Corporate & Investment Banking played a key role in this deal, reaffirming its international leadership in sustainable financing.
BBVA’s strategic commitment to sustainability
BBVA recently set a new sustainable business mobilization target of €700 billion from 2025 to 2029. This more than doubles the previous target of €300 billion for the 2018–2025 period, which was already achieved in December 2024, a year ahead of schedule. This new, more ambitious objective will also run for a shorter period (five years as opposed to eight).
BBVA has placed sustainability at the core of its business, promoting it as a driver of growth and making it one of its six strategic priorities. In this regard, Javier Rodríguez Soler, Global Head of Sustainability and CIB at BBVA, stated: “BBVA supports companies in advancing their decarbonization through financial solutions and expert advisory. We work alongside our clients at every stage of their transition towards more sustainable models.”
In the sustainable lending business, BBVA has been a pioneer and a key driver, making it one of the most active institutions globally and particularly in Spain. According to the ‘Global Sustainable Finance Loan - Participant Lender’ league table by LSEG Loan Connector, in the first half of 2025 the bank has participated in 66 green and sustainable transactions, leading a total of 22 syndicated loans as bookrunner for clients across various sectors, with notable deals in Spain, Germany, Italy, France, the United States, and Asia.