BBVA raises €700M in senior bond as demand hits €1.45B
What's the deal? BBVA has closed a £600 million (nearly €700 million) senior non-preferred bond issue, the Spanish bank said Wednesday. Demand reached £1.25 billion (€1.455 billion), more than double the offering.
The details: The bond carries a six-year maturity. Strong demand let BBVA tighten pricing from 115 basis points over UK government debt to a spread of 100 basis points. NatWest, NomuraDealroom has a profile for this one. Try Dealroom →, and BBVA acted as placement agents.
Why now? The issue is part of BBVA's 2026 financing plan and aims to reinforce its buffer of liabilities eligible for the Minimum Requirement for own funds and Eligible Liabilities (MREL).
What's the endgame? A day earlier, the bank closed a green bond, also senior but in preferred format. The two operations bring BBVA's total to eight visits to debt markets so far this year.
The signal: At €700 million, the round sits near the middle of comparable debt raises, but the heavy oversubscription points to steady investor appetite for European bank paper — and to BBVA's regular reliance on capital markets to meet regulatory funding requirements.
Read more: forbes.es
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