Banco Bilbao Vizcaya Argentaria SA Issue of preferred securities contingently conv. (1784B)
19 September 2018 - 3:17AM
UK Regulatory
TIDMBVA
RNS Number : 1784B
Banco Bilbao Vizcaya Argentaria SA
18 September 2018
Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), in compliance
with the Securities Market legislation, and further to the relevant
information dated today, hereby proceeds to notify the
following:
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 1,000,000,000 Euro
(the "Issuance").
The remuneration of the Securities, whose payment is subject to
certain conditions and to the discretion of the Bank, has been set
at 5.875% on an annual basis for the first five years. After that,
it will be reviewed in accordance with the applicable terms and
conditions of the Issuance by applying a margin of 566 basis points
on the 5-year Mid-Swap Rate.
BBVA will request that the Securities qualify as Additional Tier
1 Capital pursuant to Law 10/2014, of 26 June, on regulation,
supervision and solvency of credit entities and Regulation (EU) No.
575/2013 of the European Parliament and of the Council of 26 June
2013, on prudential requirements for credit institutions and
investment firms.
BBVA will request the listing of the Securities on AIAF Mercado
de Renta Fija.
Furthermore, BBVA informs that, for the purposes set out in
articles 414, 417 and 511 of the Corporate Enterprises Act, the
directors' report, the report of the independent expert/auditor of
accounts different from BBVA's auditor and the ratification of the
report of the independent expert/auditor of accounts different from
BBVA's auditor, all related to the Issuance, have been issued.
These reports will be available to shareholders through their
publication on BBVA's website (www.bbva.com) on the Issuance
closing date (expected to take place on 24 September 2018) and will
be reported to the first General Shareholders' Meeting to be held
after the Issuance.
Madrid, 18 September 2018
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCGGUWGBUPRGMR
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