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BBVA Issues New Seven-Year Euro AT1 Bond

Provided by Dow Jones

Jun 4, 2024 12:42pm

By Miriam Mukuru

Spanish Bank Banco Bilbao Vizcaya Argentaria SA is marketing a new euro-denominated additional tier 1, or AT1, bond.

AT1 bonds are risky debt issued by banks and act as safety buffers if a bank's capital levels fall below a certain threshold.

The bond has an initial pricing in the area of 7.375% and a first call period between December 13, 2030 and June 13, 2031, BBVA said.

"This issue is part of the bank's wholesale financing plan for 2024 and aims to reinforce AT1 hybrid capital," BBVA said.

Write to Miriam Mukuru at miriam.mukuru@wsj.com

(END) Dow Jones Newswires

June 04, 2024 08:42 ET (12:42 GMT)

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