Link Securities | BBVA’s Board of Directors has approved the pre-financing of €1.5 billion in convertible bonds (CoCos), bringing forward the 2025 issues to reach the key moment of the takeover bid for Sabadell with sufficient liquidity, according to the newspaper Expansión.
The newspaper points out that BBVA has already covered all of this year’s issues, but that when the takeover bid becomes effective, the bank will enter a blackout period, which prevents it from making issues and providing information to investors, hence the advance.
