BBVA Announces €1 Billion Senior Non-Preferred Bond Issue

BBVA announced on Tuesday its third senior non-preferred bond of 2019 in the wholesale market. The banking group reported that the €1 billion 5-year maturity bond was priced at mid swap plus 95/100 basis points.

BBVA also revealed that the issue is part of its financing program for 2019, which envisages a total of €2.5 to €3.5 billion in senior non-preferred bond issues throughout the year. In the first half of 2019, BBVA sold two SNP bonds worth a combined €2 billion, which was for a €1 billion 5-year maturity bond and another €1 billion 7-year maturities green bond.

“BBVA, ABN, Citi, Mediobanca, Société Générale and UBS acted as joint bookrunners in the issuance, which will be governed by Spanish law. The bond will be listed in the Irish Stock Market.”

The bond comes just one month after BBVA announced it is set to offer digital customer onboarding everywhere it operates by the end of this year. BBVA further explained:

“By implementing this biometric technology, BBVA became the first bank in Spain to offer digital enrollment to potential customers. Technology has been improving ever since, making the process even easier. For example, it is no longer necessary to set up a video call to verify the identity of customers in Spain. A short “selfie-video” with the customer showing his or her form of identification is now all that’s needed.”

Gonzalo Rodríguez, BBVA Global Head of Customer Solutions, added:

“Our goal is to have digital enrollment available to all users across our operating footprint by the end of 2019. We want customers to be have access to  maximum banking features and services via their preferred channel at any time of day or night, conveniently and safely. To this end, Veridas has demonstrated that they have unrivaled technology, which will now be available to our customers wherever we operate.”

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