GA_P advises on €150M blockchain-based syndicated loan
Gómez-Acebo & Pombo has advised on a €150 million syndicated corporate loan granted by BBVA and Santander to Iberdrola, executed entirely through distributed ledger technology (DLT), commonly known as blockchain.
The transaction was carried out using a new blockchain-based platform developed by ioBuilders in collaboration with BBVA and Santander. It marks a technological milestone for the syndicated loan market, as it is the first real syndicated loan in which the entire lifecycle of the financing is managed through this technology.
The platform covers every stage of the transaction, from execution and disbursement to interest payments, waivers, repayments, transfers and maturity, digitising the management of the loan.
The GA_P team advising on the transaction comprised Paula Zarzalejos Buesa, partner, and senior associates Iñigo Arrieta Rodríguez and Juan Ferreras Estrada, from the firm’s Banking and Finance practice.
