BBVA has premiered international capital markets with the first year’s debt issuance. The excellent response from investors has reduced the price and place 1,500 million euros of senior debt to five years, a period which values the market confidence in BBVA.
BBVA, with Commerzbank, Goldman Sachs, HSBC and Société Générale, has addressed this issue, which closed at a price of 295 basis points over midswap, with a coupon of 3.75%. The oversubscription enabled BBVA to reduce the price from 310 basis points above initial midswap. In less than two hours after the opening of the book, demand exceeded 5,000 million euros, more than 3 times the final amount of 1,500 million euros, and the issue was attended by over 400 investors.
- hsbc branch alicante