/ Vigeo Eiris provides the Spanish Insurance company MAPFRE with its ESG score for an innovative sustainable credit
News Companies & Organisations - 21/03/2018
Vigeo Eiris provides the Spanish Insurance company MAPFRE with its ESG score for an innovative sustainable credit
The operation is the first syndicated green revolving credit facility in the Insurance sector, and the amount of 1 billion euros will finance the company's general needs.
The Spanish bank BBVA, acting as “Sustainable Agent”, cooperated with MAPFRE to link the interest margin of the credit to the company’s ESG rating provided by Vigeo Eiris. This type of operation is the first one in the Insurance sector.
This innovative credit transaction follows Red Electrica’s and Iberdrola’s operations, announced in December 2017 and January 2018. It confirms the emergence of this new way to directly align the financing cost to the sustainability performance of a company.