BBVA to Early Redeem €2 Billion Public Sector Covered Bonds Held on Its Own Books

Banco Bilbao Vizcaya Argentaria ( (ES:BBVA) ) has provided an announcement.

BBVA has announced the early full redemption of its public sector covered bonds issue “Cédulas Territoriales – October 2021” with ISIN ES0413211A42, which is entirely held on its own books. The €2 billion issue, listed on the AIAF fixed income market since October 2021, will be redeemed at 100% of par on 20 April 2026, with €10.52 million in interest to be paid at that time.

The early redemption underscores BBVA’s active management of its funding and capital structure, retiring a sizeable covered bond issue ahead of its scheduled maturity. The move has limited direct impact on external investors, as all securities are held by the bank, but it may signal continued optimization of its balance sheet and funding mix within the Spanish and European fixed income markets.

More about Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria (BBVA) is a major Spanish banking group operating in retail and wholesale banking, corporate and investment banking, and a range of financial services. The bank is active in fixed income markets, issuing instruments such as covered bonds to manage funding and balance sheet needs across its international operations.

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