BBVA Bancomer prints Tier Two sub-debt

BBVA Bancomer prints Tier Two sub-debt

Debt Bonds Capital Markets Corporate & Sovereign Strategy Fixed Income Mexico

BBVA Bancomer has printed $1bn in 2033 non-call 10 Basel III-compliant Tier Two subordinated bonds, DCM sources confirmed. Bank of America Merrill Lynch, BBVA, BNP Paribas and JPMorgan started initial price talk at 300bp over US Treasuries, before tightening yield at guidance to 270bp, plus or minus 5bp, one DCM banker said. Orders peaked at $3.3bn and leads launched on the tighter end of guidance, at 265bp over US Treasuries. The Mexican financial institution priced the transaction with a coupo

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