trending Market Intelligence /marketintelligence/en/news-insights/trending/yTYKcrTDy-B2S1L_Ynbgww2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

BBVA issues €1B in perpetual CoCo bonds

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

BBVA issues €1B in perpetual CoCo bonds

Banco Bilbao Vizcaya Argentaria SA issued contingent convertible bonds amounting to €1 billion.

The perpetual bonds carry a 6% coupon, 0.375 points lower than the indicated price of 6.375%. They are redeemable in five years, on the first call date of March 29, 2024. The Spanish banking group said the instruments were 3x oversubscribed, attracting more than 250 orders.

BBVA said the deal increased its flexibility in refinancing previously issued CoCo bonds or Additional Tier 1 instruments. The bank noted that it has met its 1.5% minimum AT1 capital buffer requirement, with the ratio standing at 1.57% as of December 2018.

BBVA, BNP, Crédit Agricole CIB, Citi, Deutsche Bank and HSBC acted as underwriters on the deal.