Business Context and Reporting Period
Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (BBVA)
Filing Type: Form 6-K (Report of Foreign Issuer)
Date: February 11, 2026
Context: Notification of an irrevocable decision to early redeem a specific tranche of Senior Preferred Notes.
Key Financial Metrics
The filing does not provide comprehensive financial statements (revenue, profit, cash flow, or margins). It focuses exclusively on a capital structure event:
- Instrument: EUR 1,000,000,000 Senior Preferred Notes (ISIN: XS2322289385).
- Original Issue Date: March 24, 2021.
- Redemption Date: March 24, 2026 (Optional Redemption Date).
- Redemption Price: EUR 100,000 per note plus accrued interest.
- Accrued Interest: EUR 125 per note (calculated up to, but excluding, March 24, 2026).
Material Changes
BBVA has announced an irrevocable decision to redeem the entire EUR 1 billion issuance of Senior Preferred Notes. This action requires and has obtained prior permission from the Single Resolution Board (SRB). The redemption represents a reduction in the bank's preferred capital instruments.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the execution of the redemption in accordance with the terms and conditions of the Issuance. Payment to holders is scheduled for March 24, 2026.
Risks/Contingencies: The filing notes that the English version is a translation and the Spanish original prevails in case of discrepancy. No other specific risks or contingencies are detailed in this document.
Investor Verification Checklist
- Verify the impact of the EUR 1 billion redemption on BBVA's Total Capital Ratio and Tier 1 Capital adequacy.
- Confirm the Single Resolution Board (SRB) approval status and any conditions attached.
- Review the bank's liquidity position to ensure the cash outflow on March 24, 2026, is adequately funded.
- Check for any subsequent announcements regarding the replacement of this capital or changes in dividend policy for preferred shareholders.