BBVA participates in the largest new financing transaction in Spain in 2013November 5, 2013
BBVA, via its Corporate & Investment Banking division, has acted as Bookrunner and Mandated Lead Arranger (MLA) in the refinancing of €2.25 billion of the debt of Gas Natural. This is the largest new financing transaction in the Spanish market in 2013.
This transaction, structured as a club deal in which a total of nineteen banks are participating, includes a new €1.5 billion credit line and a €750 million loan, both maturing in five years.
The agreement struck allows for the early repayment of a previous loan to Gas Natural in the amount of €3 billion, which matured in March 2015.
BBVA also acted as adviser on the €500 million debt issue carried out by the Spanish company at the start of October.