Iberdrola, BBVA, and Santander Complete $163 Million On-Chain Syndicated Financing

Spanish utility and power company Iberdrola, along with Banco Bilbao Vizcaya Argentaria (BBVA) and Santander Bank, have completed a corporate syndicated financing of €150 million (approximately $163 million). This loan is fully managed using Distributed Ledger Technology (DLT) and marks the first syndicated loan entirely managed by DLT, covering all aspects including execution, disbursement, interest management, waivers, repayments, transfers, and maturity. The transaction was completed through a platform developed by ioBuilders, aiming to digitize the management of syndicated loans. The institutions will gradually introduce new participants and expand platform functionalities, with the ultimate goal of building a shared infrastructure for the syndicated loan market, leveraging the potential of distributed ledger technology to modernize the corporate financing sector.

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