BBVA and Pestana Hotel Group issue the world’s first green bond in the hotel industry

BBVA and Pestana Hotel Group have issued the world’s first green bond in the hotel industry, according to the International Capital Markets Association’s (ICMA). The issue received a second party opinion from the environmental consulting firm DNV.GL, which allows the bond to be certified as green. The issue was a success due to the strong interest in the European market. The €60 million bond has a maturity of 6 years and was placed among institutional investors.