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- Daily Brief - Wednesday 26 November 2014
- Mr Grumpy v Angeles Duran
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
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- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
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.
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