BBVA leads the new Iberdrola loan, the first operation with an initial margin lower than 100 basis pointsDecember 19, 2013
BBVA acted as bookrunner on the 2,000 Mn Euro syndicated loan used by energy company Iberdrola to refinance its debt. This is the first operation by a southern European company with an initial margin of less than 100 basis points since 2011.
The operation's due date is 2018 and it closed with a margin of 90 basis points, arousing the interest of 17 companies that submitted orders totaling 3,000 Mn Euro, a 50% oversubscription.
In addition to its assistance with the syndicated loan, BBVA also acted as sole Coordinator and Agent.
The new operation consolidates BBVA Corporate & Investment Banking's leadership of the southern European market, where it has secured client confidence in its strategic corporate finance decision-making.