BBVA Plans 1.5 Billion Euro Convertible Share Issue

Banco Bilbao Vizcaya Argentaria (ES:BBVA) has released an update.

Banco Bilbao Vizcaya Argentaria (BBVA) has announced that its Board of Directors has approved the issuance of up to 1.5 billion euros worth of contingent convertible preference shares, which can be converted into new ordinary shares. This move will proceed without the preferential subscription rights for current shareholders. Details on the terms of the issuance will be disclosed at a later stage.

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