This issuance is part of the BBVA Group's 2026 funding plan and is aimed at strengthening the buffer of eligible liabilities for the MREL requirement.
This is the Group's eighth debt issuance this year. In January, the bank placed €2 billion in a dual-tranche SNP issuance, its largest euro-denominated issuance in the past 20 years. In February, BBVA placed $2.5 billion in another senior non-preferred debt issuance, the largest in its history in this currency. In April, it placed $2.25 billion in a dual-tranche issuance, comprising $1.25 billion in SNP format and $1 billion in AT1 format. In June, the bank placed €1.25 billion in a green senior non-preferred issuance and €2.25 billion in a dual-tranche covered bond issuance, its first since 2023. In August, it placed $2.3 billion in a three-tranche issuance. On September 22, it placed a further €1.25 billion in a green senior preferred bond.