Vigeo Eiris provided the Spanish electric utilities Iberdrola with an independent opinion for a syndicated credit facility linked to sustainability KPIs
This 1.5 billion multi-currency is the second sustainability-linked loan of Iberdrola following a first one signed in January 2018. BBVA and BNP Paribas acted as co-sustainable agents.
Vigeo Eiris has been commissioned to provide an independent opinion on two sustainability indicators:
– The first one is linked to the promotion of access to energy, through Iberdrola’s Electricity for All program, in line with the company’s target to provide electricity to 16,000,000 people in emerging or developing countries who currently do not have access by 2030.
– The second indicator consists in an increase of the company’s installed capacity from renewable sources.
This credit transaction follows other operations launched by companies from different sectors (Insurance, Automobile, Utilities, Industrial goods and services, etc). It confirms the development of this new way to directly align the financing cost to the sustainability performance of a company.
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