Business Context and Reporting Period
This Form 6-K filing by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) covers the period ending May 8, 2026. The report serves as a disclosure of a specific debt issuance event rather than a periodic financial performance report.
Key Financial Metrics
The filing details a new debt issuance with the following metrics:
- Instrument: 4.968% Senior Non-Preferred Fixed Rate Notes due 2031.
- Aggregate Principal Amount: U.S.$1,250,000,000.
- Interest Rate: 4.968% fixed.
- Maturity Date: 2031.
The filing text does not provide clear values for revenue, profit, cash flow, operating margins, total debt, or liquidity ratios.
Material Changes
The material change disclosed is the execution of a Pricing Agreement dated April 30, 2026, and the subsequent issuance of the Notes on May 8, 2026. This transaction increases the company's outstanding debt obligations by $1.25 billion. No comparative financial data or changes in operating performance versus prior periods are included in this document.
Guidance, Outlook, and Risks
The filing incorporates the transaction documents by reference into a Registration Statement on Form F-3 (No. 333-289121). It includes legal opinions from Davis Polk & Wardwell LLP (U.S. counsel) and J&A Garrigues, S.L.P. (Spanish counsel) regarding the legality of the Notes. The text does not contain management commentary, forward-looking guidance, specific risk factors, or details on unusual items beyond the standard debt issuance process.
Investor Verification Checklist
- Verify the final pricing and terms of the $1.25 billion 4.968% Notes due 2031 in the Pricing Agreement (Exhibit 1.1).
- Review the Fourth Supplemental Indenture (Exhibit 4.11) for covenants and repayment terms.
- Confirm the use of proceeds for this issuance by referencing the incorporated Form F-3 Registration Statement.
- Check the company's most recent Form 20-F for updated total debt levels and liquidity positions post-issuance.