ME News reports that on October 15 (UTC+8), Spanish utility and power company Iberdrola, BBVA, and Santander announced the completion of a €150 million (approximately $163 million) corporate syndicated loan. BBVA stated that the loan is fully managed using distributed ledger technology (DLT), marking the first syndicated loan entirely administered via DLT, covering all stages from execution and disbursement to interest management, waivers, repayments, transfers, and maturity.
This transaction was completed on a platform developed by ioBuilders, supported by BBVA and Santander Bank, aiming to digitize syndicated loan management. Following the first transaction, the institutions will gradually onboard new participants and expand the platform’s functionality, with the ultimate goal of building a shared infrastructure for the syndicated loan market. The objective is to leverage the potential of distributed ledger technology to modernize corporate financing. (Source: Foresight News)

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