BBVA Paves the Way to Social Bonds as a Response to COVID-19
Banco Bilbao Vizcaya Argentaria SA (BBVA or the Group; rated A (high), Stable Trend) launched on May 27, 2020 an inaugural EUR 1 billion Social Bond specifically aimed at mitigating the economic and social impact caused by the Coronavirus Disease (COVID-19) pandemic - the first European bank to do so. The bond is a Senior Debt instrument issued under the Group's Global Medium-Term Note (GMTN) programme, with a five-year maturity and an interest rate of Mid-Swap (MS) + 112 bps. This issuance is also aiming at refinancing other Senior Debt instruments maturing next year.Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
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