Complex BBVA AT1 debut divides opinion
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Complex BBVA AT1 debut divides opinion

BBVA’s bold move to get out ahead of the pack with its new CRD-compliant additional tier one security has raised hackles in the bond market, with some bankers claiming that the deal’s complex structure is not in the spirit of new regulations and creates a complex precedent for the nascent market. The deal could hit the market as soon as Tuesday.

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