April 23, 2018 / 8:25 AM / 6 months ago

BBVA, Iberdrola sign first green corporate loan in Latin America

LONDON, April 23 (Reuters) - Banco Bilbao Vizcaya Argentaria (BBVA), together with nine other banks, has signed a $400 million green loan with Iberdrola for wind farm projects in Mexico - the first green corporate loan for Latin America, the bank said.

Spanish utility Iberdrola will use the proceeds of the loan to refinance the construction of three wind farms in Mexico.

The other banks involved in the deal were not disclosed.

BBVA is aiming to mobilise 100 billion euros in green and social finance from 2018 to 2025. (Reporting by Nina Chestney; editing by Jason Neely)

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