BBVA leads a new operation in Italy and consolidates its leadership in sustainable development

BBVA acted as sustainability coordinatorin collaboration with Citi, supporting SNAM in the conversion of a syndicated loan in RCF format of 3,200 million already existing in a solution whose margin is linked to three sustainable KPIs. The operation was certified by the sustainable development consultant Standard Ethics and, with it, SNAM becomes the first gas company to formalize a sustainable loan in RCF format on a global scale.

The 19 local and international banks that participated in the operation, in addition to BBVA, are: Bank of America Merrill Lynch, Bank of Tokyo Mitsubishi, Barclays, BNP Paribas, Citi, Crédit Agricole, ING, Intesa, JP Morgan, Mediobanca , Mizuho, ​​Societe Generale, Sumitomo Mitsui, NatWest, Unicredit, Cassa Depositi e Prestiti, Goldman Sachs and Morgan Stanley.

BBVA, a reference in sustainable financing

BBVA has the capacity, knowledge and experience to provide its clients with top quality advice on sustainable financing solutions, both in bonds and in loans, and plays a key role in the development of both markets.

In the field of sustainable loans, BBVA has been a pioneer and fundamental promoter, and today it is one of the most active entities in the world and undisputed leader in Spain and Italy. Over the past two years, the bank has conducted a total of 21 transactions in Europe and America for clients in various sectors.

In turn, BBVA was the most active bookrunner in the green bond market in the Iberian Peninsula in 2017 and is a global reference entity having advised, placed and structured green bonds for clients from different sectors in Mexico, the United States and Europe, both in local currency only in euros and dollars.

About SNAM

SNAM is the leading gas company in Europe. Founded in 1941 as “Società Nazionale Metanodotti”, it has built and managed for more than 75 years sustainable and technologically advanced infrastructures that guarantee energy security throughout Europe. SNAM is present in Italy and, through its subsidiaries, in Austria (TAG and GCA), France (Teréga) and the United Kingdom (Interconnector UK). It is one of the main shareholders of TAP (Trans Adriatic Pipeline) and is the company most involved in projects to create the Energy Union.

First in Europe for the size of its transmission network (more than 32,500 km in Italy, around 40,000 with international subsidiaries) and for its natural gas storage capacity (16.7 billion cubic meters in Italy, around 20 billion with international subsidiaries). SNAM manages the first liquefied natural gas (LNG) plant in Italy and is a shareholder in the country’s main terminal.

SNAM’s economic model is based on sustainable growth, transparency, the cultivation of talent and the development of territories through dialogue with communities. It promotes sustainable mobility, develops energy efficiency and invests in biomethane and innovative technologies to increase the use of renewable gas, a key resource in the green economy.

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