HOUSTON, June 29, 2017 /PRNewswire/ -- BBVA Compass
Bancshares, Inc., a Sunbelt-based bank holding company (BBVA
Compass), announced today that its wholly-owned subsidiary Compass
Bank has closed the sale of $750
million in aggregate principal amount of its 2.875 percent
unsecured senior notes (Senior Notes). The Senior Notes were sold
at a price of 99.847 percent of par.
The Senior Notes will mature on June 29,
2022, and will bear interest at a rate of 2.875 percent per
annum, payable semi-annually in arrears on June 29 and December
29 of each year, beginning on December 29, 2017. Compass Bank intends to use
the proceeds of the offering for general corporate purposes and as
a source of diversification of its funding base.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, BBVA
Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley
& Co LLC acted as joint book-running managers for the offering
of the Senior Notes.
Additional information pertaining to BBVA Compass' fixed income
issuances can be found on our website at bbvacompass.com under the
Investor Relations tab.
To learn more about BBVA Compass, visit: bbvacompass.com
For more news visit: bbva.com and newsroom.bbvacompass.com
About BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial
services group founded in 1857. The Group is the largest financial
institution in Spain and
Mexico and it has leading
franchises in South America and
the Sunbelt Region of the United
States; and it is also the leading shareholder in Garanti,
Turkey's biggest bank for market
capitalization. Its diversified business is focused on high-growth
markets and it relies on technology as a key sustainable
competitive advantage. Corporate responsibility is at the core of
its business model. BBVA fosters financial education and inclusion,
and supports scientific research and culture. It operates with the
highest integrity, a long-term vision and applies the best
practices. More information about BBVA Group can be found at
bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that
operates 657 branches, including 342 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 38 in Colorado and 19 in New Mexico. BBVA Compass ranks among the top
25 largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 5th nationally in
the total number of SBA loans originated in fiscal year 2016.
Additional information about BBVA Compass can be found at
bbvacompass.com. For more BBVA Compass news, follow
@BBVACompassNews on Twitter or visit
newsroom.bbvacompass.com.
Forward-Looking Statements
Certain statements in this press release may contain
forward-looking statements about BBVA Compass Bancshares, Inc. (the
"Company") and its industry that involve substantial risks and
uncertainties. The use of "we," "our" and similar terms refer to
the Company. Statements other than statements of current or
historical fact, including statements regarding our future
financial condition, results of operations, business plans,
liquidity, cash flows, projected costs, and the impact of any laws
or regulations applicable to the Company, constitute
forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. Words such as "anticipates,"
"believes," "estimates," "expects," "forecasts," "intends,"
"plans," "projects," "may," "will," "should," and other similar
expressions are intended to identify these forward-looking
statements. These forward-looking statements reflect the Company's
views regarding future events and financial performance. Such
statements are subject to risks, uncertainties, assumptions and
other important factors, many of which may be beyond the Company's
control, that could cause actual results to differ materially from
anticipated results. If the Company's assumptions and estimates are
incorrect, or if the Company becomes subject to significant
limitations as the result of litigation or regulatory action, then
the Company's actual results could vary materially from those
expressed or implied in these forward-looking statements. The
forward-looking statements are and will be based on the Company's
then current views and assumptions regarding future events and
speak only as of their dates made. The Company assumes no
obligation to update any forward-looking statement, whether as a
result of new information, future events, or otherwise, except as
required by securities law or regulation. For further information
regarding risks and uncertainties associated with the Company's
business, please refer to the "Risk Factors" section of the
Company's Annual Report on Form 10-K filed with the U.S. Securities
and Exchange Commission (the "SEC") on March
1, 2017, as updated by our subsequent SEC filings.
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SOURCE BBVA Compass