After beginning the year with a debt issue in Mexico, BBVA returned to the wholesale markets on Monday with a 10-year senior preferred debt issue worth €1.25 billion. The issue is priced at the mid-swap + 135 basis points, significantly below the starting price (mid-swap + 160 basis points).
The book has reached €2.75 billion, showcasing the interest that this issue has generated among investors.The bookrunner banks include Barclays, BBVA, BNP Paribas, Credit Agricole and Intesa Sanpaolo.
This operation is part of BBVA’s wholesale financing plan for 2024, which is similar to its 2023 plan in terms of the size and debt instruments. Last year, the bank launched approximately €7.2 billion of public issues.