BBVXF BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Price Chart
Executive Summary
BBVA announced the early redemption of GBP 300 million in Tier 2 subordinated notes, effective July 15, 2026. This is a routine liability management action that reduces the bank's subordinated debt and slightly improves its capital structure, but has no material impact on the common equity or earnings outlook.
Actionable Insight
This is a routine capital management move with no earnings or credit signal. Monitor for any subsequent Tier 2 replacement issuance, which would indicate the bank is optimizing its capital stack rather than deleveraging.
Key Facts
- BBVA is exercising early redemption of GBP 300 million in Tier 2 subordinated notes (ISIN XS2206805769).
- Redemption date is July 15, 2026, coinciding with the Optional Redemption Date.
- Redemption price is GBP 100,000 per note plus accrued interest of GBP 3,104 per note.
- Authorization from the European Central Bank was obtained for the redemption.
Financial Impact
GBP 300 million principal redemption, plus accrued interest of approximately GBP 9.3 million (based on GBP 3,104 per note × 3,000 notes).
Risk Factors
- No material risks identified — this is a standard call of callable subordinated debt.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-071689 |
| Document: 0001104659-26-071689-index-headers.html | 0001104659-26-071689 |
| Document: 0001104659-26-071689-index.html | 0001104659-26-071689 |
| Document: 0001104659-26-071689.txt | 0001104659-26-071689 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
3d ago
|
6-K
| $23.00 awaiting T+5 | awaiting T+5 | — | $23.57 (+2.48%) |
|
Jun 8, 2026
5d ago
|
6-K
| $22.63 awaiting T+5 | awaiting T+5 | — | $23.57 (+4.15%) |
|
Jun 1, 2026
12d ago
|
6-K
| $23.34 $23.17 | ▼ −0.73% | ▲ +2.02% | $23.57 (+0.99%) |
|
May 26, 2026
17d ago
|
6-K
| $22.40 $23.34 | ▲ +4.20% | ▲ +3.11% | $23.57 (+5.22%) |
|
May 18, 2026
26d ago
|
6-K
| $22.55 $22.40 | ▼ −0.67% | ▼ −2.28% | $23.57 (+4.52%) |
|
May 12, 2026
4w ago
|
6-K
| $21.20 $22.55 | ▲ +6.37% | ▲ +6.29% | $23.57 (+11.18%) |
|
May 11, 2026
4w ago
|
6-K
| $21.54 $22.55 | ▲ +4.69% | ▲ +4.77% | $23.57 (+9.42%) |
|
May 8, 2026
5w ago
|
6-K
| $23.00 $23.20 | ▲ +0.87% | ▼ −0.59% | $23.57 (+2.48%) |
|
May 8, 2026
5w ago
|
6-K
| $23.00 $23.20 | ▲ +0.87% | ▼ −0.59% | $23.57 (+2.48%) |
|
May 4, 2026
5w ago
|
424B5
| $22.35 $21.54 | ▼ −3.62% | ▼ −6.56% | $23.57 (+5.46%) |
US Market Status
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