Banco Bilbao Vizcaya Argentaria, S.A. filed a Form 6-K with the U.S. Securities and Exchange Commission on November 13, 2026, disclosing the issuance and sale of three tranches of Senior Non-Preferred Notes totaling U.S.$2,050,000,000 in aggregate principal amount.

Key Highlights

  • Three-tranche offering: BBVA issued U.S.$750,000,000 of 5.609% Senior Non-Preferred Fixed Rate Notes due 2029, U.S.$1,000,000,000 of 6.213% Senior Non-Preferred Fixed Rate Notes due 2036, and U.S.$300,000,000 of Senior Non-Preferred Floating Rate Notes due 2029.
  • Pricing date: The Pricing Agreement for the Notes is dated November 4, 2026, according to the filing.
  • Supplemental indentures: Three supplemental indentures (Eighth, Ninth, and Tenth) were each dated as of November 13, 2026, with The Bank of New York Mellon acting through its London Branch as Trustee, Paying Agent, Transfer Agent, and Security Registrar.
  • Registration statement: The filing and its exhibits are incorporated by reference into the Registration Statement on Form F-3 (No. 333-289121) filed with the SEC.
  • Legal opinions provided: Opinions on the legality of the Notes were furnished by Davis Polk & Wardwell LLP (U.S. counsel) and J&A Garrigues, S.L.P. (Spanish counsel).

BBVA's Three-Tranche Senior Non-Preferred Note Issuance: Structure and Terms

According to the Form 6-K filed on November 13, 2026 by Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA), the Spanish bank disclosed the issuance and sale of three series of Senior Non-Preferred Notes. The largest tranche consists of U.S.$1,000,000,000 aggregate principal amount of 6.213% Senior Non-Preferred Fixed Rate Notes due 2036. The second tranche comprises U.S.$750,000,000 aggregate principal amount of 5.609% Senior Non-Preferred Fixed Rate Notes due 2029. The third tranche is U.S.$300,000,000 aggregate principal amount of Senior Non-Preferred Floating Rate Notes due 2029.

The filing states that a Pricing Agreement covering all three tranches was dated November 4, 2026. Each tranche is governed by a separate supplemental indenture, designated as the Eighth, Ninth, and Tenth Supplemental Indentures, respectively, all dated as of November 13, 2026. The Bank of New York Mellon, acting through its London Branch, serves as Trustee, Paying Agent, Transfer Agent, and Security Registrar for each tranche, and also as Calculation Agent for the Floating Rate Notes, according to the filing.

The filing reports that legal opinions as to the legality of the Notes were provided by Davis Polk & Wardwell LLP as special United States counsel to the issuer, and by J&A Garrigues, S.L.P. as Spanish counsel. The Form 6-K and its exhibits were incorporated by reference into the Registration Statement on Form F-3 (No. 333-289121). The filing was signed by Ignacio Echevarría Soriano as Authorized Representative of the registrant.

What Was Disclosed

BBVA's Form 6-K reported the November 2026 issuance of three tranches of Senior Non-Preferred Notes totaling U.S.$2,050,000,000, with supplemental indentures, a pricing agreement, and legal opinions filed as exhibits and incorporated into an existing Form F-3 registration statement.