BBVA & Porsche Holding Salzburg have closed the “first” acquisition term loan using blockchain technology

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BBVA & Porsche Holding Salzburg have closed the “first” acquisition term loan using blockchain technology

  • The bank and the automotive distributor closed a €150 million term loan backing acquisitions in the retail distribution network in Europe and Asia
  • Porsche Holding the first non-Spanish borrower using this technology for the negotiation and closing of a corporate loan
  • Blockchain offers a better client experience by automating the negotiation process and minimising operational risks
  • The speed of execution is essential to the success of acquisition finance transactions
  • BBVA delivered the first syndicated loan on the technology; and joined a pilot test for improved issuing of warrants