BBVA has participated in a new green bond issue for Iberdrola (Baa1/BBB+/BBB+), the first such bond issued in the second half of the year in Europe. BBVA is acting as Joint Bookrunner for this issue along with Credit Agricole, Commerzbank, Deutsche Bank, JP Morgan, Morgan Stanley, Santander and UBS.

The deal totaled €700 million with a 0.495% yield and an oversubscription of over 2x, with a significant participation of SRI (Socially Responsible Investing) investors.

This deal, the third of its kind completed by Iberdrola since the first green bond was launched in 2014, is in line with its recent announcement that it will finance all of its debt using this format.

This is the first green bond issued by a Spanish corporate customer in which BBVA plays this leading role. Previously, BBVA had participated in sustainable finance transactions for Gaz de France (2014), KutxaBank (2015) and ICO (2016) in Europe.

BBVA continues to work with its customers to boost their presence in the future of this innovative and promising line of business.