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        <title>Fixed income | BBVA</title>
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        <link>https://www.bbva.com/en/economy-and-finance/finance/financial-and-commercial-services/fixed-income/</link>
        <description>NEWS BBVA</description>
        <lastBuildDate>Wed, 23 Sep 2026 11:17:13 +0200</lastBuildDate>
        <language>en-US</language>
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                                <item>
                    <title>BBVA places £600 million senior non-preferred bond amid strong demand</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-issues-six-year-senior-non-preferred-bond-in-sterling/</link>
                    <pubDate>Wed, 23 Sep 2026 07:41:20 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1178909</guid>
                                            <description>
                            <![CDATA[BBVA on Wednesday placed £600 million (€698 million) in a senior non-preferred bond issuance. Demand reached as much as £1.25 billion. The bond has a six-year maturity, until September 2032, with an early redemption option in September 2031. The price was set at UKT (the UK sovereign bond) +100 basis points, below the initial price guidance of UKT+115 basis points. BBVA, NatWest and Nomura acted as bookrunners.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA on Wednesday placed £600 million (€698 million) in a senior non-preferred bond issuance. Demand reached as much as £1.25 billion. The bond has a six-year maturity, until September 2032, with an early redemption option in September 2031. The price was set at UKT (the UK sovereign bond) +100 basis points, below the initial price guidance of UKT+115 basis points. BBVA, NatWest and Nomura acted as bookrunners.]]>
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                                <item>
                    <title>BBVA places €1.25 billion senior preferred green bond with demand twice the amount issue</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-issues-seven-year-senior-preferred-green-bond/</link>
                    <pubDate>Tue, 22 Sep 2026 09:13:27 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1178808</guid>
                                            <description>
                            <![CDATA[BBVA has placed a €1.25 billion senior preferred green bond this Tuesday, maturing in September 2033. The price was set at mid-swaps +75 basis points, significantly below the initial price guidance of mid-swaps +100 basis points. The bookrunners were BBVA, Danske, ING, Natixis and UBS. Demand reached €2.8 billion.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA has placed a €1.25 billion senior preferred green bond this Tuesday, maturing in September 2033. The price was set at mid-swaps +75 basis points, significantly below the initial price guidance of mid-swaps +100 basis points. The bookrunners were BBVA, Danske, ING, Natixis and UBS. Demand reached €2.8 billion.]]>
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                                <item>
                    <title>BBVA places €2.25 billion dual-tranche euro-denominated covered bond issuance</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-places-e2-25-billion-dual-tranche-euro-denominated-covered-bond-issuance/</link>
                    <pubDate>Tue, 16 Jun 2026 11:35:32 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                    <category>
                                <![CDATA[Issuances]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1165920</guid>
                                            <description>
                            <![CDATA[BBVA placed €2.25 billion in a dual-tranche euro-denominated covered bond issuance on Tuesday. In the first tranche, with a three-year maturity, BBVA placed €1.25 billion at a price of mid-swap + 14 basis points (compared with initial price guidance of mid-swap + 20 basis points). In the second tranche, with a seven-year maturity, BBVA placed €1 billion at a price of mid-swap + 27 basis points (compared with initial price guidance of mid-swap + 34 basis points).]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA placed €2.25 billion in a dual-tranche euro-denominated covered bond issuance on Tuesday. In the first tranche, with a three-year maturity, BBVA placed €1.25 billion at a price of mid-swap + 14 basis points (compared with initial price guidance of mid-swap + 20 basis points). In the second tranche, with a seven-year maturity, BBVA placed €1 billion at a price of mid-swap + 27 basis points (compared with initial price guidance of mid-swap + 34 basis points).]]>
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                                <item>
                    <title>BBVA places $2.25 billion in a dual-tranche dollar issuance with demand nearly five times oversubscribed</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-launches-a-dual-tranche-dollar-issuance-at1-and-senior-non-preferred/</link>
                    <pubDate>Thu, 30 Apr 2026 11:30:52 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1159210</guid>
                                            <description>
                            <![CDATA[BBVA has today placed $2.25 billion in a dual-tranche US dollar issuance: $1.0 billion in a contingent convertible bond (AT1 or ‘CoCo’) and $1.25 billion in a senior non-preferred (SNP) bond. Demand reached $11.0 billion, nearly five times the offer, representing the largest order book for a BBVA issuance in the past five years.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA has today placed $2.25 billion in a dual-tranche US dollar issuance: $1.0 billion in a contingent convertible bond (AT1 or ‘CoCo’) and $1.25 billion in a senior non-preferred (SNP) bond. Demand reached $11.0 billion, nearly five times the offer, representing the largest order book for a BBVA issuance in the past five years.]]>
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                                <item>
                    <title>BBVA issues a contingent convertible (CoCo) bond worth €750 million</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-issues-a-contingent-convertible-coco-bond-with-a-seven-year-redemption-option/</link>
                    <pubDate>Tue, 04 Jun 2024 08:49:59 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Debt issuance]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income market]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1045339</guid>
                                            <description>
                            <![CDATA[BBVA tapped the market today with a euro-denominated contingent convertible (known as a CoCo or AT1) bond, attracting demand of €3.5 billion. The issue price was set at 6.875 percent, well below the 7.375 percent starting price.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA tapped the market today with a euro-denominated contingent convertible (known as a CoCo or AT1) bond, attracting demand of €3.5 billion. The issue price was set at 6.875 percent, well below the 7.375 percent starting price.]]>
                        </content:encoded>
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                                <item>
                    <title>BBVA places €1.75 billion of senior preferred debt, with the issue 2x oversubscribed</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-issues-senior-preferred-debt-in-euros-structured-in-two-tranches/</link>
                    <pubDate>Wed, 29 May 2024 09:34:36 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Debt issuance]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1044400</guid>
                                            <description>
                            <![CDATA[BBVA tapped the market this Wednesday with a €1.75 billion senior preferred debt issue, structured in two tranches. Demand was double the final placement, with orders reaching €3.5 billion. The first tranche, with a three-year maturity (June 2027), closed at a rate of three-month Euribor +45 basis points (versus an initial price of three-month Euribor +70 to 75 basis points). The second tranche, with a six-year maturity (June 2030), closed at the mid-swap rate + 75 basis points, versus an initial price of mid-swap + 100 basis points.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA tapped the market this Wednesday with a €1.75 billion senior preferred debt issue, structured in two tranches. Demand was double the final placement, with orders reaching €3.5 billion. The first tranche, with a three-year maturity (June 2027), closed at a rate of three-month Euribor +45 basis points (versus an initial price of three-month Euribor +70 to 75 basis points). The second tranche, with a six-year maturity (June 2030), closed at the mid-swap rate + 75 basis points, versus an initial price of mid-swap + 100 basis points.]]>
                        </content:encoded>
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                                <item>
                    <title>Coco bonds: A definition</title>
                    <link>https://www.bbva.com/en/economy-and-finance/additional-tier-1-securities-a-definition/</link>
                    <pubDate>Thu, 04 Apr 2024 11:20:12 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Reyes Pariente]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Debt issuance]]>
                            </category>
                                                    <category>
                                <![CDATA[Economy]]>
                            </category>
                                                    <category>
                                <![CDATA[Financial and commercial services]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/en/?p=296841</guid>
                                            <description>
                            <![CDATA[The contingent convertible capital instruments (<em>CoCos</em>) also known as Additional Tier 1 bonds are  hybrid bonds that combines debt and equity elements. Its defining characteristic is that it may be converted into shares if the CET1 capital ratio drops below a specific level.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[The contingent convertible capital instruments (<em>CoCos</em>) also known as Additional Tier 1 bonds are  hybrid bonds that combines debt and equity elements. Its defining characteristic is that it may be converted into shares if the CET1 capital ratio drops below a specific level.]]>
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                                <item>
                    <title>BBVA's social bonds issued in 2020 have helped more than 15,100 businesses through ICO loans in Spain</title>
                    <link>https://www.bbva.com/en/sustainability/bbvas-social-bonds-issued-in-2020-have-helped-more-than-15100-businesses-through-ico-loans-in-spain/</link>
                    <pubDate>Fri, 02 Jul 2021 13:18:01 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Miguel Rodríguez Canfranc]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Bonds]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                    <category>
                                <![CDATA[Social welfare]]>
                            </category>
                                                    <category>
                                <![CDATA[Sustainability]]>
                            </category>
                                                    <category>
                                <![CDATA[Sustainable Finance]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=sustainability&#038;p=851100</guid>
                                            <description>
                            <![CDATA[BBVA placed €1.04 billion through two social bonds in 2020, the funds of which were mainly used to help micro- and small companies through ICO-guaranteed loans, in the case of Spain. In total, 15,175 companies with a total of 207,628 employees have benefited. This is shown in the<a href="https://shareholdersandinvestors.bbva.com/wp-content/uploads/2021/07/20210702-BBVA-2020-Green-and-Social-Bond-Report.pdf" target="_blank" rel="noopener noreferrer"> 'BBVA 2020 green and social bond report'</a>. The report highlights that, since the 2018 publication of the framework for issuing bonds linked to the Sustainable Development Goals (SDGs), the emission of more than 2.3 million tons of CO2 into the atmosphere has been avoided, through the projects financed with BBVA's green bonds in 12 countries; a figure that is equivalent to the annual emissions of nearly 913,000 cars.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA placed €1.04 billion through two social bonds in 2020, the funds of which were mainly used to help micro- and small companies through ICO-guaranteed loans, in the case of Spain. In total, 15,175 companies with a total of 207,628 employees have benefited. This is shown in the<a href="https://shareholdersandinvestors.bbva.com/wp-content/uploads/2021/07/20210702-BBVA-2020-Green-and-Social-Bond-Report.pdf" target="_blank" rel="noopener noreferrer"> 'BBVA 2020 green and social bond report'</a>. The report highlights that, since the 2018 publication of the framework for issuing bonds linked to the Sustainable Development Goals (SDGs), the emission of more than 2.3 million tons of CO2 into the atmosphere has been avoided, through the projects financed with BBVA's green bonds in 12 countries; a figure that is equivalent to the annual emissions of nearly 913,000 cars.]]>
                        </content:encoded>
                                                        </item>
            
                                <item>
                    <title>What does BBVA do to end poverty?</title>
                    <link>https://www.bbva.com/en/sustainability/what-does-bbva-do-to-end-poverty/</link>
                    <pubDate>Mon, 22 Apr 2019 00:44:12 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[jesus.delasheras]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[BBVA Sustainability Projects]]>
                            </category>
                                                    <category>
                                <![CDATA[Ethical Banking]]>
                            </category>
                                                    <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                    <category>
                                <![CDATA[Responsible banking]]>
                            </category>
                                                    <category>
                                <![CDATA[SDG]]>
                            </category>
                                                    <category>
                                <![CDATA[Social Area]]>
                            </category>
                                                    <category>
                                <![CDATA[Sustainability]]>
                            </category>
                                                    <category>
                                <![CDATA[Sustainable Development Goals]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=634672</guid>
                                            <description>
                            <![CDATA[BBVA has a core purpose of bringing the age of opportunity to everyone. The first step toward fulfilling this purpose has to do with the bank’s contribution to attaining the first of the United Nations (UN) Sustainable Development Goals (SDGs): the end of poverty. The 17 SDGs are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The UN has called on companies to unite their efforts and initiatives in this area, <a href="http://www.sdgfund.org/business-and-un" target="_blank" rel="noopener noreferrer">with a focus on public-private partnerships</a>.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA has a core purpose of bringing the age of opportunity to everyone. The first step toward fulfilling this purpose has to do with the bank’s contribution to attaining the first of the United Nations (UN) Sustainable Development Goals (SDGs): the end of poverty. The 17 SDGs are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The UN has called on companies to unite their efforts and initiatives in this area, <a href="http://www.sdgfund.org/business-and-un" target="_blank" rel="noopener noreferrer">with a focus on public-private partnerships</a>.]]>
                        </content:encoded>
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                                <item>
                    <title>BBVA places second debt issue in six days: €1 billion in senior non-preferred debt</title>
                    <link>https://www.bbva.com/en/bbva-places-second-issue-of-debt-in-six-days-e1-billion-in-senior-non-preferred-debt/</link>
                    <pubDate>Wed, 20 Feb 2019 16:44:28 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Blanca González del Fresno]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Fixed income]]>
                            </category>
                                                    <category>
                                <![CDATA[Issuances]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=609301</guid>
                                            <description>
                            <![CDATA[After placing <a href="https://www.bbva.com/en/bbva-issues-e750-million-of-subordinated-tier-2-debt-oversubscribed-by-more-than-five-times/">€750 million of subordinated debt last Thursday</a>, BBVA has returned to wholesale markets with a €1 billion issue of senior non-preferred debt. Demand exceeded the initial offer by three and half times, making it possible to reduce the initial price (mid swap price +130 basis points) by 23 points.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[After placing <a href="https://www.bbva.com/en/bbva-issues-e750-million-of-subordinated-tier-2-debt-oversubscribed-by-more-than-five-times/">€750 million of subordinated debt last Thursday</a>, BBVA has returned to wholesale markets with a €1 billion issue of senior non-preferred debt. Demand exceeded the initial offer by three and half times, making it possible to reduce the initial price (mid swap price +130 basis points) by 23 points.]]>
                        </content:encoded>
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