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MADRID - Banco Bilbao (NYSE:BBVA) Vizcaya Argentaria S.A. (BME:BBVA) is set to issue 5-year Senior Non-Preferred Notes, according to a pre-stabilization notice released Tuesday.
UBS Investment Bank will act as the Stabilizing Manager for the offering, with the stabilization period expected to begin July 8, 2025, and end no later than August 13, 2025.
The aggregate nominal amount and offer price of the notes have not yet been determined, according to the notice. The stabilization mechanism may include over-allotment of securities of up to 5% of the aggregate nominal amount or transactions to support the market price of the securities.
The stabilization process allows the manager to intervene in the market to prevent the price of newly issued securities from falling below the issue price immediately after issuance.
Senior non-preferred notes rank below other senior obligations in the event of resolution or insolvency proceedings, but above subordinated debt. Financial institutions often issue these instruments to meet regulatory requirements for loss-absorbing capacity.
The notice specified that the securities have not been registered under the United States Securities Act of 1933 and will not be offered in the United States.
This information is based on a press release statement issued via the Regulatory News Service (RNS) of the London Stock Exchange (LON:LSEG).
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