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© Reuters. BBVA opens the issuance market with the sale of 7-year senior debt
Madrid, Jan 5 (.) .- BBVA (MC 🙂 opened the issuance market in Spain this Wednesday with the launch of a non-preferred senior debt placement, one whose sole guarantee is the entity’s own solvency, with a 7-year term but with an early repayment option after 6 years.
According to market sources, the initial price of the issue is an interest rate of 105 basis points on the “mid-swap”, the reference for this type of issue, although the demand from investors could make the placement cheaper.
This issuance of non-preferred senior debt, included in BBVA’s plans, will help reinforce compliance with the minimum requirement for equity and eligible liabilities (MREL) while diversifying the maturities of its portfolio.
In addition to BBVA itself, Intesa Sanpaolo (ME:), Natixis (NYSE :), NatWest Markets, Nomura and Société Générale (PA 🙂 help place the debt among investors, which will be issued in euros.
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