By Adria Calatayud
Banco Bilbao Vizcaya Argentaria plans to issue financial instruments contingently convertible into new shares for a total amount of $1 billion.
The Spanish bank said late Tuesday that, once fully paid up, the securities are expected to qualify as so-called additional tier 1 capital, a funding tool banks use to prop up their capital buffers.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
01-08-25 0126ET