On Wednesday of this week, BBVA placed €1.25 billion in a 12-year Tier 2 subordinated debt issue, with a call option at seven years. The market response has been excellent, with demand reaching nearly €6 billion, five times the amount ultimately allotted. The price was set at mid swap + 240 basis points, significantly below the starting price (mid swap + 275 basis points).
The two institutions will provide finance to boost the country's foreign trade through an expansion of the facilities at Uruguay's premier port. The total outlay comes to $340 million.
BBVA, together with Bank of America Securities and Citigroup Capital Markets, led Ecopetrol’s new issuance of corporate debt in the U.S. market in the amount of $1.85 billion. This placement consolidates BBVA’s role as one of the top financial institutions in the structuring, placement and sale of corporate bonds.
Garanti BBVA is streamlining the loan approval process for retail customers seeking vehicle finance. Utilizing the Instant Loan from Dealer (BAK) feature, customers can swiftly complete transactions with digital document approval through Garanti BBVA Mobile app, ensuring an efficient and seamless experience.
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).
BBVA Mexico manages a portfolio in excess of 50 billion pesos and now finances one out of every four automobiles in Mexico, making it the leader within the sector with a 25% market share.
BBVA has completed the sale of a portfolio of secured non-performing loans (NPLs). The portfolio has a gross value of approximately €330 million. This is BBVA's second such sale in 2023.
Davos will be held in Switzerland from January 15th - 19th with the theme ‘Rebuilding trust’. The event organized by the World Economic Forum will bring together over 100 governments, major international organizations and around 1,000 companies, as well as civil society leaders, renowned experts, young agents of change, social entrepreneurs and the media. Davos 2024 is an opportunity to reflect on the key challenges facing the world, marked by the geopolitical tensions of recent years, but also by the trends that will define the future, such as the decarbonization of the economy and artificial intelligence.
The British magazine, part of the Financial Times group, also recognized BBVA as the Best Bank in Mexico, one of its biggest markets, as well as the franchise in Peru. For The Banker, BBVA is a “leading bank in Latin America, standing out from its peers in various markets in the region.”
BBVA successfully completed the share buyback program launched on October 2, which reached €1 billion. Under the program, the bank repurchased a total of 127,532,625 shares at an average price of €7.84. The buyback has the consideration of extraordinary shareholder distribution, which means that it is in addition to BBVA's shareholder distribution policy of between 40 and 50 percent of the bank's earnings.