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Partnerships for the ODS goals
BBVA and the Korean energy company, SK Innovation, have signed a working capital loan of €100 million to expand the company’s electric vehicle battery manufacturing facilities in Europe. This transaction is the first working capital loan certified by BBVA in Asia in compliance with its sustainable transaction banking framework.
BBVA USA recently released a BBVA PPP Loan Forgiveness Webinar to help small business owners prepare for the forgiveness phase of the small business relief component of the CARES Act.
BBVA Group Executive Chairman Carlos Torres Vila participated in the Plenary Session of the Spanish Chamber of Commerce, where he emphasized that the recovery in Spain may open up an opportunity to “quickly embrace” a more digital economy. For this, he considers that digitization should be a priority for businesses – especially SMEs – and any progress in this sense will greatly depend on public investments and the amplification effect derived from private initiatives. He also noted that “the role of banks has been pivotal, not only amplifying the impact of public money, but also aligning targets.”
The mortgage scene can be a complex one. During normal times, consumers find themselves with a lot of questions that need to be answered in order to make an informed decision on one of the biggest milestones in their lifetimes.
In what has been a steady flow of awards from Greenwich Associates, BBVA USA was recently recognized by the financial industry research firm for its response to the COVID-19 pandemic.
Analyst firm reports for the most part agree that BBVA presented solid numbers for the second quarter of 2020 and particularly stress the positive quarterly performance of its capital ratio.
The prestigious international magazine Euromoney named BBVA the best investment bank in Spain in 2020. The bank also received the title of the best bank in Latin America and repeated as the best bank for sustainable finance in the region. BBVA was also selected as the best bank in Argentina and Mexico.
If variety is the spice of life, then consider the inaugural BBVA USA Global Wealth Advisory Council a well-seasoned collection of wealth management professionals. A council made up of sales and support professionals in the BBVA USA Global Wealth and BBVA Securities, Inc. teams, the group’s main focus in its first year has been to brainstorm and cultivate unique solutions and collaboratively recommend constructive suggestions for improvement across the board.
For the second time in a week, BBVA is tapping wholesale markets with a debt issue. In this case, it is a subordinated Tier 2 bond in pound sterling, with an 11-year maturity term and a six-year early amortization option. The issue closed raising £300 million at an initial coupon rate of UKT plus a spread of 315, the reference index for this type of issuance. On July 7, BBVA successfully completed the issuance of a €1 billion bond, the first green bond ever in AT1 format by a financial institution at international level.
BBVA has closed with Copenhagen Infrastructure Partners (CIP), one of the leading global investors in renewable energy, a green loan, long-term project financing credit facility for the investment in the Monegros portfolio of 12 onshore wind farms in Aragon, Spain. BBVA has had all significant roles, including sole bookrunner, structuring bank and green loan coordinator in this transaction amounting to a total of EUR 380m. Apart from BBVA, the final club deal group was composed of five other European banks.