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BBVA Launches $1 Billion AT1 Contingent Convertible Issue Ahead of NYSE Listing

Story Highlights
  • BBVA will issue $1 billion in AT1 contingent convertible preferred securities to bolster its regulatory capital base.
  • The non-retail issue, carrying a 7.125% coupon until 2033 and then resetting over 5-year UST, is expected to close May 8, 2026, with a planned NYSE listing.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
BBVA Launches $1 Billion AT1 Contingent Convertible Issue Ahead of NYSE Listing

Meet Samuel – Your Personal Investing Prophet

Banco Bilbao ( (BBVA) ) has issued an announcement.

BBVA, the Madrid-based global banking group, has approved a new issue of preferred securities contingently convertible into newly issued ordinary shares, with a total nominal amount of $1 billion. The instruments are designed to qualify as Additional Tier 1 capital for BBVA and its group under current solvency rules, reinforcing the bank’s regulatory capital structure.

The securities will accrue discretionary, conditional distributions at 7.125% per annum from May 8, 2026, to May 8, 2033, after which the rate will reset over the 5-year U.S. Treasury with a 298.5 basis-point margin. Aimed exclusively at non-retail investors and subject to jurisdictional offering restrictions, the issue is expected to close on May 8, 2026, with BBVA seeking a New York Stock Exchange listing, underscoring its continued access to international capital markets and focus on optimizing its capital base.

The most recent analyst rating on (BBVA) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Banco Bilbao stock, see the BBVA Stock Forecast page.

Spark’s Take on BBVA Stock

According to Spark, TipRanks’ AI Analyst, BBVA is a Outperform.

The score is driven primarily by strong underlying profitability and improved leverage (financial performance) alongside a very constructive earnings outlook and shareholder-return focus from the latest call. Valuation is supportive (moderate P/E and solid yield), while the main offset is weaker near-term technical momentum (negative MACD and trading below key short-term averages).

To see Spark’s full report on BBVA stock, click here.

More about Banco Bilbao

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is a Spain-based global banking group headquartered in Madrid, providing retail and corporate banking, investment and treasury services, and other financial products across multiple international markets. Its securities are registered in the United States, and its capital instruments are actively issued and listed on major exchanges, including the New York Stock Exchange.

Average Trading Volume: 2,249,333

Technical Sentiment Signal: Buy

Current Market Cap: $121.2B

Find detailed analytics on BBVA stock on TipRanks’ Stock Analysis page.

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