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Ibercaja issues €500M in fixed-rate subordinated notes


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Ibercaja issues €500M in fixed-rate subordinated notes

Spanish lender Ibercaja Banco SA has issued €500 million in fixed-rate reset subordinated notes, the bank said in a filing to Spain's stock market regulator.

The notes have a fixed annual interest rate of 2.75% to July 23, 2025. After that date, the interest will be calculated by applying a margin of 2.882% to the five-year midswap rate, the benchmark of euro-denominated fixed-income issues.

The notes will become due in July 2030, but Ibercaja has an option to redeem them early in July 2025, the filing said.