Key Developments: Banco Bilbao Vizcaya Argentaria S.A. (BBVA.N)

BBVA.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Banco Bilbao Vizcaya Argentaria announces Jaime Saenz de Tejada to take over strategy and finance unit
Friday, 21 Mar 2014 12:53pm EDT 

Banco Bilbao Vizcaya Argentaria SA:Announces Jaime Saenz de Tejada to take over Strategy and Finance unit.Says in strategy and corporate development Saenz de Tejada to assume responsibilities previously handled by Carlos Torres Vila.Says in finance Saenz de Tejada replaces Manuel Gonzalez Cid.Gonzalez Cid to join chairman’s office as adviser for strategic affairs.  Full Article

Moody's upgrades BBVA's rating to BAA2; outlook positive on long-term ratings
Tuesday, 4 Mar 2014 08:00am EST 

Banco Bilbao Vizcaya Argentaria SA:Moody's Investors Service has upgraded to Baa2 from Baa3 the debt and deposit ratings of BBVA.Outlook changed to positive from stable.Moody's upgraded BBVA's standalone Bank Financial Strength Rating (BFSR) to C- (equivalent to a baa2 baseline credit assessment (BCA)) from D+/baa3 and its short-term rating to Prime-2 from Prime-3.Outlook on the bank's BFSR remains stable.Rating actions reflect the improvement in the Spanish government's creditworthiness, reflected in Moody's upgrade of Spain's government bond rating to Baa2 from Baa3 and the concurrent change of the outlook on Spain's rating to positive from stable on Feb. 21.  Full Article

Banco Bilbao Vizcaya Argentaria SA acquires Simple
Wednesday, 19 Feb 2014 07:00pm EST 

Banco Bilbao Vizcaya Argentaria SA:Agrees to acquire Simple.Simple is a US-based company involved in digital banking.The transaction values Simple at $117 million.Simple will continue to operate separately under the same brand, with the same philosophy and approach to customer experience.  Full Article

Banco Bilbao Vizcaya Argentaria SA announces issue of perpetual contingent convertible securities into ordinary shares
Tuesday, 11 Feb 2014 03:16pm EST 

Banco Bilbao Vizcaya Argentaria SA:Says it has agreed to carry out an issue of perpetual contingent convertible securities into ordinary shares of BBVA (Preferred Securities), without pre-emption rights, for a total amount of 1.5 bln Euros.Says it will apply for the preferred securities to be qualified as additional tier 1 capital under regulation (EU) of the European Parliament and of the Council of Jun. 26, 2013 on the prudential requirements for credit institutions and investment firms.Says issuance will be targeted only at qualified investors and foreign private banking customers and in any case will not be made or subscribed in Spain or among Spanish-resident investors.  Full Article

Moody's changes outlook on BBVA's Baa3 ratings to stable from negative; affirms ratings
Monday, 10 Feb 2014 07:00pm EST 

Banco Bilbao Vizcaya Argentaria SA:Moody's Investors Service has changed to stable from negative the outlook on Banco Bilbao Vizcaya Argentaria SA's (BBVA) Baa3 long-term senior debt and deposit ratings.Concurrently, Moody's affirmed these ratings.The rating actions follow the affirmation of the bank's standalone bank financial strength rating (BFSR) at D+ with a stable outlook and the gradual economic recovery in Spain.The bank's short-term ratings were affirmed at Prime-3.  Full Article

Banco Bilbao Vizcaya Argentaria SA sets terms for 1,000 mln euro bonds-Reuters
Friday, 10 Jan 2014 06:29am EST 

Banco Bilbao Vizcaya Argentaria SA:The company has set the final terms of its five-year bonds in the amount of 1,000 million euros, in mid-swaps plus 118 basis points-Reuters.The underwriters were BBVA, Credit Suisse, Deutsche Bank, HSBC and SocGen CIB.  Full Article

Banco Bilbao Vizcaya Argentaria SA completes sale of 98.92 pct in BBVA Panama to Leasing Bogota SA
Friday, 20 Dec 2013 02:00am EST 

Banco Bilbao Vizcaya Argentaria SA (BBVA):Says is has completed the sale of the entirety of its about 98.92 pct direct and indirect interest in Banco Bilbao Vizcaya Argentaria (Panama) SA (BBVA Panama) to Leasing Bogota SA, Panama, a subsidiary of Grupo Aval Acciones y Valores SA.Says the total amount in cash received by BBVA in connection with the sale of the mentioned interest amounts to about $645 million.Says about $505 million of the aforementioned amount have been received as purchase price and about $140 million have been received as dividends distributed by BBVA Panama since June 1.  Full Article

Banco Bilbao Vizcaya Argentaria SA Changes Dividend Policy; Aims For Cash-Only Payouts; Delays Dividend To April 2014-Reuters
Friday, 25 Oct 2013 01:23am EDT 

Reuters reported that Banco Bilbao Vizcaya Argentaria SA (BBVA) said it was changing its dividend policy and looking to distribute between 35% and 40% of profits annually, solely in cash. The change will be phased in gradually as of 2014. Until now it distributed its dividend in four payments made in cash as well as in shares. BBVA also said it would delay a dividend payment due in January 2014 to April 2014, and increase that April payment to EUR 0.17 per share.  Full Article

Banco Bilbao Vizcaya Argentaria S.A. Reaches Agreement With CITIC Limited For Sale Of 5.1% Of Participation In Share Capital Of China CITIC Bank Limited
Thursday, 17 Oct 2013 02:01am EDT 

Banco Bilbao Vizcaya Argentaria S.A. announced that it has reached an agreement with CITIC Limited for the sale of 5.1% of its participation in the share capital of China CITIC Bank Limited (CNCB) to for a total price of approximately EUR944 million. This transaction is subject to the necessary authorizations. After the closing of this sale, the participation of BBVA in CNCB will be reduced to 9.9%.  Full Article

Banco Bilbao Vizcaya Argentaria SA Announces Further Details On Dividend Option Program
Monday, 14 Oct 2013 12:27pm EDT 

Banco Bilbao Vizcaya Argentaria SA (BBVA) announced, as a continuation of press releases dated September 13, 2013 and September 25, 2013, that the trading period for the free allotment rights of the free-of-charge capital increase adopted under Agenda item four section 4.2 by the Annual General Meeting of BBVA’s shareholders held on March 15, 2013 and corresponding to the Dividend Option Program (Dividendo Opcion), ended on October 14, 2013. During the period set for that purpose, the holders of 11.72% of the free allotment rights have accepted BBVA’s undertaking to acquire such free allotment rights. Consequently, BBVA has acquired 670,834,333 rights for a total consideration of EUR 66,412,598.97. BBVA has waived the free allotment rights so acquired. The holders of the remaining 88.28% of the free allotment rights have chosen to receive new BBVA ordinary shares. Thus, the definitive number of BBVA ordinary shares of EUR 0.49 of par value issued in the free-of-charge capital increase will be 61,627,952, and the amount of the capital increase will be EUR 30,197,696.48. It is envisaged that the authorization for the admission to listing of the new shares on the Spanish Stock Exchanges will be granted on October 22, 2013, so that ordinary trading of such shares in Spain will commence on October 23, 2013. Admission to listing of the new shares (including American Depositary Shares underlying new shares) on the other Stock Exchanges where BBVA is listed shall also be requested.  Full Article

RPT-UPDATE 1-BBVA eyes Spanish profit boost from Catalunya Banc buy

(Repeats to add link to Breakingviews comment; also repeats to additional Reuters clients)

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