BBVA Unit Lines Up Benchmark Bond Issue -Source
May 11 2011 - 10:03AM
Dow Jones News
BBVA U.S. Senior S.A. Unipersonal, a unit of Banco Bilbao
Vizcaya Argentaria S.A., is in the market to sell three-year
high-grade bonds in benchmark size Wednesday, according to a person
familiar with the deal. Benchmark means at least $500 million
should be sold.
The bonds, which are expected to score ratings of Aa2 by Moody's
Investors Service, AA by Standard & Poor's and AA- by Fitch
Ratings, are senior unsecured notes. The sale is expected to wrap
up late Wednesday via bookrunners BBVA, Citigroup, Deutsche Bank
and Goldman Sachs.
The notes will bear interest at a fixed and/or floating rate.
Sizing and price guidance are still to be determined.
-By Katy Burne, Dow Jones Newswires; 212-416-3084;
katy.burne@dowjones.com
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