BBVA Triples Size of ESG-Linked SRT With PGGM, Alecta

BBVA SA is tripling the size of the loan portfolio linked to a significant risk transfer agreed on with Dutch pension fund manager PGGM and bringing in Swedish pension group Alecta as a second investor.

The reference portfolio is being increased to €6 billion ($6.48 billion) of corporate loans, up from the €2 billion previously agreed on, the Spanish bank said in an emailed statement replying to questions from Bloomberg. It includes debt deals to large corporate clients across the US, Spain and other European markets.