BBVA y Hyundai Capital Services have signed a green loan of 100 million euros, the first green loan granted by BBVA to a Korean company. This is also the first green loan HCS has obtained outside of Korea.
HCS has issued several green bonds and obtained green loans in the domestic market in the past, but this is the first time the company has used the green loan instrument in the international market to support its environmentally friendly car business.
The loan will be used by HCS to provide its customers with financial services for the purchase, leasing and marketing of eligible electric, hydrogen or hybrid vehicles, in accordance with the Green Lending Principles.
[Hyundai confirma que su marca de lujo (Genesis) no tardará en llegar a España]
“We feel honored to have collaborated with HCS on its green loan. This is another step for the bank in the field of sustainable financing in Asia, being the first green loan organized by BBVA for our Korean clients,” in the words of Pep Ferrís, head of BBVA Corporate & Investment Banking Asia.
“This green loan once again demonstrates Hyundai’s commitment to leading the automotive sector towards a more sustainable future. BBVA is proud to support this effort,” he adds.
HCS is the financial services arm of Hyundai Motor Group, which is the largest automobile manufacturer in South Korea and the third largest in the world. As part of its sustainable financing journey, HCS established a Sustainable Finance Framework in 2020 to ensure transparent and continuous monitoring and management of project selection procedures, evaluation, use of proceeds and monitoring reports.
2024-04-05 12:29:42
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