BBVA launches Project & Structured Finance Advisory capabilities in the U.S.

The new team in New York will strengthen BBVA’s ability to advise clients on complex capital needs across energy, infrastructure and other capital-intensive sectors.

BBVA Corporate & Investment Banking is expanding its Project & Structured Finance Advisory capabilities in the United States with the build-out of a dedicated team in New York, strengthening its ability to advise clients on increasingly complex financing needs.

The expansion adds dedicated advisory capabilities to BBVA’s existing U.S. financing platform, allowing the bank to advise clients on capital structure and capital formation while connecting them with financing solutions from across BBVA.

The build-out comes as capital needs across North American infrastructure continue to grow and become more complex. Projects across renewable & conventional energy, battery storage, data centers, digital infrastructure and new energy technologies can require sponsors to raise several layers of capital, including senior debt, tax capital, structured or preferred equity and bridge financing, often across different investor markets.

For BBVA, the new advisory capability represents another step in the continued development of its Investment Banking & Finance business in the United States.

"Clients increasingly need to think about their financing needs across the capital structure rather than through a single product," said Philip Schubert, Head of Investment Banking & Finance at BBVA USA. "Adding Project & Structured Finance Advisory strengthens our ability to bring together the different capabilities we have been building in the U.S. and help clients identify and execute financing solutions tailored to their objectives."

An integrated approach to complex financing

Project & Structured Finance Advisory will advise clients on optimising project capital structures and facilitating capital formation, including identifying relevant investor markets and sequencing financing processes.

The team will work alongside BBVA’s existing Project Finance lending, Cleantech Structuring, Tax Credit Monetization, U.S. Private Placements, Asset-Backed Securities and Debt Capital Markets capabilities. Depending on the project and the client’s objectives, the appropriate solution could include bank debt, tax credit monetization, a private placement, securitization or a combination of different sources of capital.

"Large projects increasingly require sponsors to consider several sources of capital at the same time," said Prateek Varma, Head of Advisory for Global Offshore Wind and Energy Transition Sectors at BBVA CIB. "Advisory allows us to start with the client’s financing objectives and capital structure rather than with an individual product. We can then identify the appropriate investors, markets and financing capabilities for each situation and deliver the best-suited solution for the client."

The approach is designed to support clients across different stages of a project’s development and financing. In a typical scenario, BBVA’s Cleantech Structuring team can engage during earlier stages on commercial and technical structuring. Project & Structured Finance Advisory can then work with clients as a project or portfolio approaches capital raising, while BBVA’s Project Finance business can provide lending and arranging capabilities where bank debt is part of the financing solution.

Building the U.S. advisory team

The New York team is being launched with the appointment of Denis Roginskiy, who brings more than 20 years of experience in project and corporate finance, primarily across renewable energy and sustainable infrastructure in North America.

Roginskiy joins BBVA from Canaccord Genuity / CRC-IB, where he advised developers and equity sponsors on capital formation across project debt, tax equity, structured and cash equity, as well as asset and platform M&A. Over his career, he has executed more than $15 billion of transactions and has been involved in nearly 10 GW of renewable and sustainable infrastructure projects.

The U.S. build-out is a natural extension of BBVA’s established Project & Structured Finance Advisory business in its core Iberian and Latin American markets and complements the bank’s Project Finance lending franchise in the United States.

By combining advisory with lending, capital markets and specialized financing capabilities, BBVA is strengthening its ability to support clients navigating complex capital decisions while continuing to deepen its Corporate & Investment Banking capabilities in the United States.