HOUSTON, Dec. 10, 2020 /PRNewswire/ -- Invitation
Homes [NYSE: INVH] announced that it has entered into a
$3.5 billion syndicated
sustainability-linked credit facility, where BBVA USA acted as sole Sustainable Agent &
Coordinator, and as a Documentation Agent, Joint Lead Arranger and
Joint Bookrunner.
With the announcement, Invitation Homes, a leading
owner-operator of single-family rental homes, became the first U.S.
Real Estate Investment Trust (REIT) to both link an Environmental,
Social and Governance (ESG) score to pricing grid and to name a
Sustainable Agent & Coordinator for their sustainability-linked
revolving credit facility (RCF).
For Invitation Homes, linking its RCF to independently verified
ESG metrics underscores its commitment to creating a better way to
live and to being a force for positive change, while at the same
time advancing efforts that make it more innovative and its
processes more sustainable.
The price adjustment of the RCF is based on Invitation Homes'
GRESB score, an aggregate ESG metric that is independently measured
and validated by The Global ESG Benchmark for Real Assets, or
GRESB.
As one of the dominant players in the sustainable loan business,
BBVA USA was pleased to support
Invitation Homes on this milestone transaction.
"We are proud to work directly with Invitation Homes to advance
their sustainability agenda," said BBVA USA President and CEO Javier Rodriguez Soler. "Sustainability is a
core competency, now more than ever, and we anticipate that the
demand for loans such as these will only grow as consumers and
investors demand full transparency around ESG from the companies
they do business with."
In addition to maintaining sustainability as one of the core
pillars in its global strategic plan, BBVA has a history of
assisting customers with sustainable finance solutions in both
bonds and loans across its global footprint.
BBVA published a framework for the issuing of bonds linked to
the United Nations' Sustainable Development Goals (SDGs) in
April 2018. Between 2018 and
June 2020, the bank has secured €40
billion in sustainable finance globally. This represents 40 percent
of the €100 billion announced in its Pledge 2025.
BBVA has led 30 issues of green, social and sustainable bonds
from clients in the Americas (U.S. and Mexico) and in Europe (Spain, U.K., France, Germany and Portugal) for a total of €19.2 billion from
January 1 through October 30,
2020.
Founded in 2012 and listed on the NYSE since 2017, Invitation
Homes is the nation's premier single-family home leasing company,
serving residents across its high-quality portfolio of
approximately 80,000 homes in 16 targeted US markets, primarily
focused in high-growth Western and Southeastern markets. Invitation
Homes maintains a fully-internalized, integrated operating platform
to renovate, lease, maintain and manage their portfolio. The
company's mission, "Together with you, we make a house a home,"
reflects its commitment to providing homes where individuals and
families can thrive and high-touch service that continuously
enhances residents' living experiences.
For more BBVA news, visit www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial
services group founded in 1857. The Group has a strong leadership
position in the Spanish market, is the largest financial
institution in Mexico, it has
leading franchises in South
America and the Sunbelt Region of the United States. It is also the leading
shareholder in Turkey's Garanti
BBVA. Its purpose is to bring the age of opportunities to everyone,
based on our customers' real needs: provide the best solutions,
helping them make the best financial decisions, through an easy and
convenient experience. The institution rests on solid values:
Customer comes first, we think big and we are one team. Its
responsible banking model aspires to achieve a more inclusive and
sustainable society.
BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that
operates 637 branches, including 328 in Texas, 88 in Alabama, 63 in Arizona, 61 in California, 43 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25
largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 14th nationally in
terms of dollar volume of SBA loans originated in fiscal year
2019.
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SOURCE BBVA USA