BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG


Banco Bilbao Vizcaya Argentaria (BBVA) has carried out a blockchain-based syndicated loan of $150 million with BNP Paribas and MUFG.

Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has carried out a blockchain-based syndicated loan of $150 million, U.K.-based global financial news agency Finextra reports Wednesday, Nov. 7.

The syndicated bank transaction has been conducted on a private blockchain network through a group of three funding banks including French banking group BNP Paribas, Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG), and BBVA.

Acting as the sole underwriter of the transaction, BBVA also secured the participation of a partly state-owned Spanish company Red Eléctrica de España, as well as two legal advisors, U.K.-based multinational law firms Linklaters and Herbert Smith Freehill.

The signed contract of the syndicated agreement has been recorded on the…



Read Full Story : Cointelegraph.com News

2018-11-07 12:06:00

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