Davis Polk advised Banco Bilbao Vizcaya Argentaria, S.A. on its SEC-registered offering of $1 billion liquidation preference of series 9 non-step-up non-cumulative contingent convertible perpetual preferred tier 1 securities. The preferred securities will be listed on the Global Exchange Market of Euronext Dublin.
The BBVA Group is a highly diversified international financial group, with strengths in the traditional banking businesses of retail banking, asset management and wholesale banking. The BBVA Group operates in Spain, Mexico, Turkey, the United States and over 30 other countries, mainly in Europe, Latin America and Asia.
The Davis Polk corporate team included partner Michael J. Willisch, counsel Ester del Valle Izquierdo and associates Thomas K. Wiesner II, Joshua S. Sills and Francisco J. Cespedosa. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Madrid and London offices.