BBVA issues $2.05 billion in senior non-preferred debt across three tranches
BBVA•BBVA issued $2.05 billion in senior non-preferred bonds across three tranches. Demand reached nearly five times the offering, and fixed-rate tranches priced an average 27 basis points below initial guidance.
1. Three bond tranches
BBVA placed $750 million in a three-year fixed-rate tranche maturing in 2029, $300 million in a three-year floating-rate tranche linked to SOFR and maturing in 2029, and $1 billion in a 10-year fixed-rate tranche. Demand reached nearly five times the offering.
