Investors flood BBVA AT1 with over EUR11bn of demand
LONDON, Feb 11 (IFR) - Investors have flooded BBVA's new euro-denominated contingent capital (CoCo) bond with over EUR11bn of demand, allowing guidance to be revised to 7.125% area, according to a lead manager.
The perpetual non-call five-year Additional Tier 1 deal will price within 0.125% of the revised guidance range later on Tuesday via joint bookrunners Barclays, BBVA, Citigroup and Morgan Stanley.
(Reporting by Aimee Donnellan; Editing by Philip Wright, Julian Baker)
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