Green Bond Fact Sheet

BBVA issued a EUR1bn green bond on May 14, 2018, under its SDGs Framework, marking the first such issuance by a Spanish bank. The proceeds are primarily allocated to renewable energy (83%), with smaller portions for sustainable transport, water/waste management, and energy efficiency. The bond was oversubscribed, with an order book exceeding EUR3bn and 51% of allocation going to SRI investors, primarily from France and other European nations.

• BBVA issued a green bond on 14-May-2018 with a total amount of EUR1bn (USD1.198bn) and a maturity date of 14-May-2025. This issuance is noted as the first green bond issued by a Spanish bank and the first green bond issued under an SDGs Framework.
• The proceeds of the EUR1bn deal are allocated across four green eligibility categories: renewable energy (83%), sustainable transport (8%), water and waste management (5%), and energy efficiency (4%).
• Specific eligibility criteria are defined for energy efficiency and buildings: energy efficiency projects must show performance improvements of at least 30%, and buildings must hold certifications such as LEED Silver, BREEAM Good, HQE Good, DNGB Silver España – VERDE, or an equivalent.
• The bond saw significant investor demand, with an order book exceeding EUR3bn, allowing the price to be lowered from mid-swaps plus 95 basis points (bps) to mid-swap plus 80bps. SRI investors accounted for 51% of the allocation, with the majority of investors originating from France, followed by Germany, Austria, the Nordics, and the UK.
• The Climate Bonds Initiative (CBI) views the SDGs Framework as innovative for distinguishing between environmental and social projects, though it notes that the green building certificate thresholds are not at the high-end of the scale.

APA

Climate Bonds Initiative (2018). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2018-05%20SP%20BBVA.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2018. https://www.climatebonds.net/files/drupal-files/files/2018-05%20SP%20BBVA.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=14 May 2018 |url=https://www.climatebonds.net/files/drupal-files/files/2018-05%20SP%20BBVA.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2018}, month = may, url = {https://www.climatebonds.net/files/drupal-files/files/2018-05%20SP%20BBVA.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }