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- Daily Brief - Tuesday 30 September
- Corvera, Castellon & Ciudad Real : THIS is how you run a private airport!
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- Spain Increases IHT in Valencia & Murcia
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Spain's BBVA to issue up to 3.48 bln euros in convertibles
BBVA, Spain's second largest bank, is to issue up to 3.475 billion euros of convertible bonds, it said on Tuesday in a note to the Madrid stock market regulator.
The yield on the bonds will be 6.5 percent and the bonds are expected to convert 50 percent of their value into ordinary shares on June 30 2012.
The European Banking Authority said in October BBVA would need 7.1 billion euros of additional capital to meet the terms of new recapitalisation proposals for the region. Spanish banks are able to count convertible bonds under their recapitalisation plans.
Latest News & Stories
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- Spain August retail sales rise 0.4% year on year
- Spain's Constitutional Court Declares Referendum "Illegal"
- Spain's Energy Providers Given Freedom to Impose Hikes
- 68% of British Expats Are Happier Abroad
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- Spain Forecasts GDP to Grow 2% in 2015