BBVA Prices $1.25 Billion Senior Non-Preferred Fixed Rate Notes Due 2031

summarizeSummary

BBVA priced a $1.25 billion offering of 4.968% Senior Non-Preferred Fixed Rate Notes due 2031, with proceeds allocated for general corporate purposes.

check_boxKey Events · Financing and Capital Events · BBVA

• Debt Offering Priced

  BBVA priced $1,250,000,000 aggregate principal amount of 4.968% Senior Non-Preferred Fixed Rate Notes due 2031.

• Use of Proceeds

  The net proceeds of approximately $1,246,500,000 will be used for general corporate purposes.

• Maturity and Interest

  The notes will mature on May 8, 2031, and bear interest at a fixed rate of 4.968% per annum, payable semi-annually.

• Subordination and Bail-in Power

  The notes are senior non-preferred obligations, ranking junior to senior preferred obligations and subject to the Spanish Bail-in Power in an insolvency or resolution event.

auto_awesomeAnalysis · BBVA · Finance

Banco Bilbao Vizcaya Argentaria (BBVA) has finalized the terms for a substantial debt offering, issuing $1.25 billion in 4.968% Senior Non-Preferred Fixed Rate Notes due 2031. The net proceeds of approximately $1.246 billion will be used for general corporate purposes, bolstering the bank's liquidity and capital position. This offering is part of BBVA's ongoing capital management strategy, as evidenced by a concurrent launch of contingent convertible preferred tier 1 securities. Investors should note that these senior non-preferred notes are subject to the Spanish Bail-in Power, a standard regulatory feature for European bank debt, which could result in a reduction or conversion of the notes in a resolution scenario.