Acerinox and BBVA have made history by signing the first sustainable operation in the steel industry in Spain. It involves an EUR 80M bilateral loan with a maturity of 5 years to partially finance the purchase of VDM Metals.
With the assistance of BBVA, Acerinox has become the first company in the Spanish steel industry to commit to linking its financial costs to its sustainable commitment. It has done so through the conversion of an EUR 80M bilateral loan to partially finance the purchase of VDM Metals. The purchase of this company, which has its headquarters in Germany, poses a great opportunity for Acerinox to grow in new markets.
This financing is sustainable since the cost of the loan is linked to the evolution of two indicators established, which will be reviewed annually: relative emissions intensity (direct and indirect) per tonne of steel produced and the frequency of occupational accidents.
The Group continues to move towards a more sustainable transition, promoting the creation of shared value and taking into account the social and environmental impacts of its business activities.