By Adria Calatayud
Banco Bilbao Vizcaya Argentaria plans to issue financial instruments contingently convertible into new shares for a total amount of $1 billion.
The Spanish bank said late Tuesday that, once fully paid up, the securities are expected to qualify as so-called additional tier 1 capital, a funding tool banks use to prop up their capital buffers.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
January 08, 2025 01:11 ET (06:11 GMT)
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