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BRIEF-Spain's BBVA agrees to issue additional Tier-1 debt for 500 mln euros
May 16, 2017 / 7:44 PM / 2 months ago

BRIEF-Spain's BBVA agrees to issue additional Tier-1 debt for 500 mln euros

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May 16 (Reuters) - Spain's BBVA:

* Says agrees to carry out an issue of contingent preferred securities convertible into newly issued ordinary shares of BBVA, with exclusion of pre-emptive subscription rights for shareholders, for a nominal amount of 500 million euros ($554 million)

* Says will request that the preferred securities qualify as Additional Tier 1 capital

* Says the issuance is targeted only at qualified investors and in any case will not be offered in Spain

* Says application has been made to the Irish Stock Exchange for the securities to be admitted to trading Further company coverage: ($1 = 0.9019 euros) (Reporting by Madrid Newsroom)

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