BILBAO (dpa-AFX) - Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Wednesday said it has issued a contingent convertible bond known as a CoCo or AT1 bond, in dollars, on Tuesday.
BBVA is the first European bank to launch a debt issue in this format in 2025.
The AT1 has a 7-year early redemption option with an initial pricing of 8.25 percent.
'This operation is part of the bank's wholesale funding plan for 2025 and aims to strengthen AT1 hybrid capital,' the company said in a statement.
The bookrunners included BBVA, Barclays, Bank of America, Citi, HSBC and JP Morgan.
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