Banco Bilbao Vizcaya Argentaria (BBVA) issued a six-year senior non-preferred bond denominated in sterling.
The bond matures in September 2032 and includes an early redemption option in September 2031.
Initial price guidance is set at 115 basis points over UK government bonds (UKT).
This transaction marks the group’s eighth debt issuance within the current year.
The issuance supports BBVA’s 2026 funding strategy and strengthens its Minimum Requirement for Own Funds and Eligible Liabilities (MREL) buffer.
BBVA, NatWest, and Nomura are acting as bookrunners for the transaction.