BBVA Group has published the June 2017 update of its presentation aimed mainly at analysts and fixed-income investors. The key new point is the incorporation of the 2017-2018 issuance plan for senior non-preferred debt. BBVA plans to issue up to €4.5 billion with this type of instrument this year and next.

The main new point in the latest fixed-income presentation is the incorporation of the 2017-2018 issuance plan for senior non-preferred debt (SNP), a new type of instrument approved by Spanish law in June. It is a category of liability with a greater legal capacity to absorb losses, which allows financial institutions in the European Union to comply with the requirements of the MREL regulation. BBVA plans to issue up to €4.5 billion this year and next. BBVA Group's strategy is to use these issues to refinance some of the maturities of its wholesale debt instruments that are not eligible under the new European legislation. Yesterday BBVA brilliantly launched its participation in this market with the issue of €1.5 billion at the lowest price achieved in Europe for this maturity.

BBVA - Banco Bilbao Vizcaya Argentaria SA published this content on 01 September 2017 and is solely responsible for the information contained herein.
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Original documenthttps://www.bbva.com/en/bbva-plans-issue-e4-5-billion-senior-non-preferred-debt-2017-2018/

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