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14 January 2022

BBVA securitizes project finance loan portfolio valued at 500 million euros

BBVA has closed its first balance sheet synthetic securitization of a project finance loan portfolio. This is a transfer of risk to institutional investors Alecta and PGGM that allows the bank to free up 80% of the capital on a portfolio of project loans that will remain on the bank's balance sheet.

BBVA has closed a risk sharing transaction with Alecta and PGGM for a project finance loan portfolio worth 500 million euros. This portfolio represents a variety of projects, mainly in Spain and Western Europe, with one third of the portfolio consisting in renewable energy related projects, as that has been a clear focus in BBVA origination activities. The bank  retains a risk alignment of minimally 20% for each project in the portfolio.

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