BBVA keeps fees down amid FIG revival

November 03, 2010 12:00 am

A renewed appetite for M&A and the looming implementation of Basel III capital rules have given financial institution ECM activity a boost going into the end of 2010. BBVA signed up eight bookrunners this week to support a Eu5.1bn rights issue for its acquisition of a 24.9% Garanti stake — and kept the fees and discount tight. Greece’s Piraeus Bank, though, could only get soft underwriting commitments to its Eu800m deal. Read EuroWeek on Friday for all the details.

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