MADRID, 5 Mar. (EUROPA PRESS) –
BBVA closed this Tuesday a debt issue of 2,000 million dollars (1,842 million euros) in two tranches, with maturities of five and eleven years, as reported by financial sources to Europa Press.
The first tranche was a five-year senior preferred bond for $1 billion (€921.1 million). The starting price of the issue was the US Treasury rate plus 150 basis points, although it ultimately remained at 125.
The second tranche was a senior non-preferred bond also of 1,000 million dollars (921.1 million euros) for eleven years, with the possibility of early amortization after ten. The starting price was the US Treasury rate plus 215 basis points, but it closed below, at 190 integers, specifically.
Final demand has more than tripled supply, reaching a total of 6,500 million dollars (5,987 million euros). The placement banks have been BBVA itself, Bank of America, JP Morgan, Mizuho, Morgan Stanley, RBC Capital Markets and Wells Fargo.
This is the first time that BBVA has gone out in 2024 to seek financing in the US market. This issue is also aligned with the financing plan designed by the entity, which contemplates the possibility of entering markets other than the euro with the aim of expanding its investor base.
