BBVA breaks into the Global Top 10 European Corporate Yankee League Tables

This performance reflects BBVA CIB’s growing presence in the U.S. Debt Capital Markets, where the bank was ranked 8 as bookrunner of European Corporate Yankee transactions in the first quarter. Of note, the bank has carved out a critical role in the Auto sector as an active bookrunner on landmark transactions for Daimler Truck, Mercedes-Benz and Volkswagen. The bank also served as a bookrunner for other prestigious, multi-billion transactions for BAT Capital, CNH Industrial Capital and Stellantis Finance U.S. In total, BBVA was part of raising $16.7bn for its key European clients in the U.S. Capital Markets. These rankings are based on Bloomberg data, considering the role of bookrunner in corporate Yankee bond issuances by European clients in the U.S. dollar market (Q1 2025). In addition, BBVA is also taking market share in Europe with U.S. borrowers, ranking as one of the top underwriters in terms of volumes in the Corporates Reverse Yankee Market.

BBVA has steadily increased its presence in the U.S. over the past few years and the recent strategic hiring of corporate bankers is yielding positive results. In Q1 '25, BBVA was an underwriter on €16.9bn of reverse yankee activity for clients such as AT&T, IBM, Digital Realty, PPG Industries, General Mills, Linde, Ford Motor Credit and Johnson & Johnson. These important transactions demonstrate the confidence corporate clients have in BBVA’s global underwriting capabilities which have resulted in a healthy pipeline of transactions for the remainder of the year.

The bank’s results are underpinned by a strategic focus on cross-border corridors - leveraging its international platform to help clients access global capital pools efficiently and at scale. This includes seamless coordination across currencies and geographies through BBVA’s Global Credit platform which integrates Debt Capital Markets Origination, Syndicate, Sales, and Trading.

“Our success in the fixed income markets is a clear reflection of how we are capitalizing on our cross-border strengths to offer clients bespoke, efficient financing solutions,” said Luis Alarcón, Global Head of Credit Markets at BBVA. “We combine deep local expertise with global execution capabilities to deliver consistent value across market cycles.”

"We combine deep local expertise with global execution capabilities to deliver consistent value across market cycles"

This achievement has also been driven by BBVA’s strengthened presence in key execution hubs such as New York and London, where the bank has reinforced its Debt Capital Markets and Global Markets teams. Over the past 18 months, BBVA CIB has made strategic senior hires in both locations to better support its international client base, while continuing to build on its franchise in core geographies such as Europe, Mexico, and Latin America​.

BBVA CIB’s cross-border approach is aligned with its global strategy of providing innovative financial solutions for institutional and corporate clients seeking diversification, optimized debt structures, and access to alternative capital sources​. The U.S. Capital Markets remains a central pillar of BBVA’s DCM strategy, and the bank’s growing track record in executing large-scale, multi-currency transactions confirms its role as a trusted partner to leading issuers in sectors such as autos, energy, utilities, and consumer goods.

“Our main objective, as a global capital markets team, is to provide our international clients with an agnostic, menu-driven solution that efficiently addresses their unique and constantly changing funding needs,” said Scott Whitney, Head of U.S. DCM based in New York. “Finding the right structure, currency and pricing for each situation is an iterative process for most clients and the best results can only be achieved if our product partners globally are operating from the same playbook.”

"The best results can only be achieved if our product partners globally are operating from the same playbook"

As BBVA continues to expand its global footprint and invest in talent, technology, and client relationships, its ability to navigate through dynamic market conditions while exceeding expectations, positions it as a forward-thinking, high-impact player in global capital markets.