Vigeo Eiris provides the Spanish electric utilities Red Eléctrica España S.A. ‘”REE” with its ESG score for an innovative green credit
The operation is the first syndicated green revolving credit facility in Spain, and the amount of 800 million euros will finance the company's general needs.
The Spanish bank BBVA, acting as “Green Agent”, cooperated with REE to link the interest margin of the credit to the company’s ESG rating provided by Vigeo Eiris. This will be a way to directly align the financing cost to the sustainability performance of the company.
This pioneer green credit in Spain may boost the European market in terms of integration of ESG criteria in new types of financing operations, and encourages corporates and banks to take the ESG performance into consideration in credit facilities.
Vigeo Eiris (V.E) was acquired by Moody’s Corporation in 2019 and officially became a part of Moody’s ESG Solutions Group in 2020. The V.E brand name is now being retired and replaced with Moody’s ESG Solutions. Existing customers: please note that your access to our platforms and data services will continue without interruption. From December 1st 2021, the content pages on the V.E website will no longer be updated. However, content on this website will remain active for archive purposes only. Please visit www.moodys.com/esg-solutions to find our latest product information on ESG data and assessments, Second Party Opinions, Sustainability Ratings, as well as ESG research and insights. Moody’s ESG Solutions is committed to producing superior ESG insights that empower organizations to better understand ESG performance and make better decisions. Please contact us at MESG@moodys.com if you would like to know more.