BBVA brings pioneering green AT1

By David Freitas
07 Jul 2020

BBVA became the first financial institution to issue green debt in additional tier one (AT1) format on Tuesday, launching a bond with a 6% coupon. The Spanish lender left no premium on the table, according to some market participants.

BBVA launched the €1bn perpetual non-call 5.5 year deal supported by over €2.75bn of demand after guidance was revised.

The Spanish bank commissioned Barclays, BBVA, BNP Paribas, CitiJP Morgan and Société Générale to run the books and they started out with price ...

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