BBVA went to market this Tuesday with the objective of issuing a senior preferred 'green' bond denominated in Swiss francs, structured in two tranches, according to what the entity has communicated.
The first tranche has a maturity of four years, in 2030, and has been launched with an initial price set at a spread of between 75 and 80 basis points over the 'mid swap' of the Swiss benchmark rate Saron.
For its part, the second tranche will have a maturity of seven years, in 2033, and has started with an indicative price of between 90 and 95 basis points over the 'mid swap' of the Swiss benchmark rate Saron.
This placement is part of BBVA's financing plan for 2026 and aims to strengthen the cushion of eligible liabilities to comply with the MREL requirement. The entities in charge of the placement are UBS and Commerzbank. It is the group's ninth debt issuance operation so far this financial year.