BBVA lowers conversion price of mandatory convertible bonds

By Tali David

Minneapolis, May 21 - Banco Bilbao Vizcaya Argentaria, SA said it set the minimum and maximum conversion prices for its mandatory convertible subordinated bonds dated December 2011 at €3.31 and €47.37, respectively, according to a filing with the London Stock Exchange.

The Bilbao, Spain-based bank said the current conversion prices were set in view of the free-of-charge capital increase implemented by the board of directors of BBVA, in its meeting held on April 3, in accordance with the terms approved by the ordinary general shareholders' meeting of BBVA held on March 1.

The minimum conversion price was previously lowered to €3.36, and the maximum conversion price was reduced to €48.10. The prices were last modified on March 23.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.