BBVA retires €691.7m of LT2 debt
BBVA is set to book an estimated capital gain of €107m after buying back €691.7m of lower tier two debt in a liability management exercise. This figure represents the repurchase of non-consent securities only, so the final amount, which will be revealed once bondholder syndicates have approved the repurchase of the two consent securities, is likely to be larger.
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