REG - Banco Bil.Viz.Argent - Issue of preferred securities contingently conv

Banco Bilbao Vizcaya Argentaria SAAnnouncement

04/06/2024 18:15

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RNS Number : 1189R  Banco Bilbao Vizcaya Argentaria SA  04 June 2024

 

Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), in compliance with the
Securities Market legislation, hereby proceeds to notify the following:

 

 

OTHER RELEVANT INFORMATION

 

 

BBVA has agreed to carry out an issue of preferred securities contingently
convertible into newly issued ordinary shares of BBVA with exclusion of
pre-emptive subscription rights for shareholders (the "Securities") for a
total nominal amount of 750,000,000 euros (the "Issuance").

 

Once fully paid-up, the Securities are expected to qualify as Additional Tier
1 Capital of BBVA and its Group pursuant to the applicable solvency
regulations.

 

The remuneration of the Securities, whose payment is discretionary and subject
to certain conditions, has been set at 6.875% on an annual basis until 13 June
2031. After that, it will be reviewed in accordance with the applicable terms
and conditions of the Issuance by applying a margin of 426.7 basis points on
the 5-year Mid-Swap Rate.

 

The Issuance is in no event directed towards retail investors, without
prejudice to the additional sales restrictions set out in the terms and
conditions of the Issuance.

 

BBVA will request the listing of the Securities on the Global Exchange Market
of Euronext Dublin.

 

Madrid, 4 June 2024

 

Important information:

This announcement does not constitute or form part of an offer of securities
for sale in the United States or any other jurisdiction. The Securities have
not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in the United
States absent registration or an exemption from the registration requirements
of the Securities Act. No money, securities or other consideration from any
person inside the United States is being solicited and, if sent in response to
the information contained in this announcement, will not be accepted. Further
restrictions apply in, among other jurisdictions, Spain, the United Kingdom,
Italy, Belgium, Singapore, Hong Kong, Canada and Switzerland.

 

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