Banco Bilbao Vizcaja Argentaria SA, or BBVA, (BBVA.MC) plans a euro-denominated benchmark senior unsecured bond, said one of the banks leading the deal Friday.

The bond will have a 1.5 year maturity and has an initial guidance of 250 to 260 basis points over midswaps.

BBVA, Citigroup Inc and Goldman Sachs are lead managers on the issue, which is expected to price later Friday.

Ratings are Aa3 from Moody's Investors Services Inc., AA- from Standard & Poor's Corp. and A+ from Fitch Ratings.

-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; serena.ruffoni@dowjones.com

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