September 6, 2019 |
BBVA's branch in Mexico sold $750m in dollar-denominated bonds on Thursday to finance a buyback of the same amount, sources told LatinFinance.
BBVA Securities, the Spanish bank's own brokerage business, and the other bookrunners, Goldman Sachs, HSBC and JPMorgan, put the initial price talk in the "very low sixes" and then priced the 15-year notes to yield 5.875% on solid demand, said a banker away from the deal.
The bookrunners had taken BBVA to meet investors in London, New York, Los Angeles
Spanish bank's Mexican branch issues $750m in new notes to fund a buyback for the same amount