Beachbox signs as lenders turn red on green
Spain’s Beachbox Hotelco has signed a €55m green project finance loan, amid increasing calls from some parts of the market for regulators and governments to do more to cover banks’ costs in sustainability lending.
BBVA and Caixabank are providing the financing to Beachbox.
The deal is structured as a green loan with independent advisory firm Arup rubber stamping the facility in accordance with the Green Loan Principles.
The financing will go towards a complete renovation of a hotel on the Spanish island of Ibiza.Environmental ...
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