BBVA in 2012

Project Finance

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BBVA Project Finance in Europe continues to be the benchmark in renewable energy, environmental and infrastructure project finance. Nearly 20 deals have been closed in 2012 in Spain, France, Italy and the United Kingdom, including the one carried out with the Carrington combined-cycle power plant in the UK. In social infrastructures, BBVA provided structured finance for the Tribunal de Grande Instance de Paris and four hospitals in Tuscany.

Main Project Finance transactions in 2012

In Latin America, the funding of Line 12 of the Mexico City subway is of note. In energy, it financed Cerro del guila, the second largest hydropower plant in Peru. A milestone in renewable energy has been the issue of project bonds for Oaxaca II and IV, the first such issues for wind power projects in Latin America distributed outside the region, as well as the ION project, which will become the largest wind farm in Latin America. BBVA has continued to boost its diversification across different sectors, with the funding of the La Chira sewage treatment plant in Peru and the acquisition of Atento by Bain Capital. It also received one of the “Deals of the Year” awards from Euromoney for the Hospital Maipand La Florida deals in Chile and Refinera de Cartagena in Colombia.

In the United States, BBVA participated in the privatization of the Ohio State University Parking as administrative agent and was named “Non-Traditional Financing of the Year 2012” by Bond Buyer.

Lastly, activity in the renewable energy sector has been boosted in the Asia-Pacific region. BBVA has strengthened its financial advisory skills, basically for Asian companies, moving their business to Europe and Latin America and focusing on project bonds.