BBVA Corporate & Investment Banking has participated in the €1,200 million Club Deal arranged to refinance Enagás' debt until 2018, in which 70% of the loan has been contributed by foreign institutions.

In addition to BBVA, 12 other entities are taking part in the deal: Barclays, BNP Paribas, Caixabank, Citibank, Mediobanca, Natixis, Société Générale, Santander, Crédit Agricole, Intesa San Paolo, JPMorgan and Mizuho.

This is the first syndicated loan operation taken out by the energy company for which BBVA has both contributed financing and acted as documentation agent.

BBVA is once again collaborating with the Madrid-based company following the financial advisory services the bank provided to Enagás in its acquisition of 90% of Naturgás Energía Transporte (NET) in February this year. This stands out as the largest transaction to take place in the energy sector in the Iberian peninsula since 2010.