BBVA USA Bancshares Inc. subsidiary BBVA USA on Aug. 27 closed the sale of $600 million of unsecured senior notes due Aug. 27, 2024, at a price of 99.953% of par.
The notes will bear interest at a rate of 2.500% per year, payable in arrears on Feb. 27 and Aug. 27 of each year, starting Feb. 27, 2020.
BBVA USA plans to use the proceeds for general corporate purposes and as a source of diversification of its funding base.
Goldman Sachs & Co. LLC, BBVA Securities Inc., BofA Securities Inc. and Morgan Stanley & Co. LLC served as joint book-running managers for the offering.
