HOUSTON, June 11, 2018 /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 $450
million in aggregate principal amount of floating rate
unsecured senior notes due 2021 (the "Floating Rate Notes") and
$700 million in aggregate principal
amount of 3.50 percent unsecured senior notes due 2021 (the "Fixed
Rate Notes" and together with the Floating Rate Notes, the
"Notes"). The Floating Rate Notes were sold at a price of 100
percent of par and the Fixed Rate Notes were sold at a price of
99.704 percent of par.
The Floating Rate Notes will mature on June 11, 2021, and will bear interest equal to
the 3-month LIBOR rate plus 0.73 percent per annum (the 3-month
LIBOR rate will be reset quarterly), payable quarterly in arrears
on March 11, June 11, September
11 and December 11 of each
year, beginning on September 11,
2018. The Fixed Rate Notes will mature on June 11, 2021, and will bear interest at a rate
of 3.50 percent per annum, payable semi-annually in arrears on
June 11 and December 11 of each year, beginning on
December 11, 2018. Compass Bank
intends to use the proceeds of the Notes offering for general
corporate purposes in the ordinary course of business.
Morgan Stanley & Co. LLC, BBVA Securities Inc., Citigroup
Global Markets Inc. and Goldman Sachs & 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.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates
649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 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 (6th). BBVA Compass has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 6th nationally in
the total number of SBA loans originated in fiscal year 2017.
Additional information about BBVA Compass can be found under the
Investor Relations tab at bbvacompass.com, by following
@BBVACompassNews on Twitter or visiting
newsroom.bbvacompass.com.
About BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services
group founded in 1857. The Group has a strong leadership position
in the Spanish market, is the largest financial institution in
Mexico, 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.
On April 5, 2018, BBVA filed its
annual report on Form 20-F for the year ended December 31, 2017, with the U.S. Securities and
Exchange Commission. A copy can be accessed on the BBVA website at
https://shareholdersandinvestors.bbva.com/the-share/adrs-english/.
Holders of BBVA's American Depositary Receipts (ADRs) may request a
hard copy of the Form 20-F for the year ended December 31, 2017, including complete audited
financial statements, free of charge. To request a copy, contact
Ed Bilek at ed.bilek@bbva.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 February 28, 2018, as updated by our subsequent
SEC filings.
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SOURCE BBVA Compass