Freshfields has advised a syndicate of 32 banks, led by Banco Bilbao Vizcaya Argentaria and Bank of America, on a EUR 2.5 billion sustainability-linked revolving credit facility granted to Iberdrola Financiacion and Avangrid as borrowers, with Iberdrola acting as guarantor.
According to Freshfields, the facility, which features a five-year term and options to extend by up to two additional years, aims to support Iberdrola, Europe’s largest and one of the world’s top two electricity companies by market capitalization, in its sustainability and growth objectives.
The Freshfields team included Vienna-based Special Counsel Anouschka Zagorski and Senior Associate Simon Fitzpatrick as well as further lawyers in Madrid and New York.
Freshfields did not respond to our inquiry on the matter.