BBVA plans early redemption of 4.245 bln euros of mortgage-backed bonds

MADRID, June 18 Wed Jun 18, 2014 7:11am EDT

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MADRID, June 18 (Reuters) - Spanish bank BBVA said on Wednesday that it plans to redeem early a total of 4.245 billion euros ($5.75 billion) of mortgage-backed bonds issued in 2011 and 2012.

The bank will buy back 2.5 billion euros of bonds issued Aug. 2, 2012 and originally due 2028 and another 1.745 billion euros of bonds issued Oct. 11, 2011 and due 2024, BBVA said in a statement to the stock market regulator. ($1 = 0.7383 Euros) (Reporting by Carlos Ruano, Writing by Paul Day)