BBVA’s $2 Billion Senior Preferred Notes Offering

Davis Polk advised Banco Bilbao Vizcaya Argentaria, S.A. on the deal.

Banco Bilbao Vizcaya Argentaria, S.A. completed its SEC-registered offering of $1.2 billion fixed-rate senior preferred notes due 2023 and $800 million fixed-rate senior preferred notes due 2025. The notes will be listed on the New York Stock Exchange.

The BBVA Group is a diversified international financial group, with strengths in the traditional banking businesses of retail banking, asset management and wholesale banking. The BBVA Group operates in Spain, Mexico, Turkey, the United States and over 30 other countries, mainly in Europe, Latin America and Asia.

The Davis Polk corporate team advising BBVA included partner Michael J. Willisch (Picture), counsel Ester del Valle Izquierdo and associates Joshua S. Sills and Jose Lucena-Rebollo. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Associate Brantley Hawkins provided ’40 Act advice.

Involved fees earner: Ester del Valle Izquierdo – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Brantley Hawkins – Davis Polk & Wardwell; Jose Lucena-Rebollo – Davis Polk & Wardwell; Joshua Sills – Davis Polk & Wardwell; Michael Willisch – Davis Polk & Wardwell; Summer Xia – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Banco Bilbao Vizcaya Argentaria (Bbva);