12 jul: Target Aims at Inner City Markets for Latest Expansion
12 jul: OIL FUTURES: Oil Prices Rally on News of More Iranian Sanctions
12-07-2012 21:34:00

Mexico's BBVA Bancomer Places $1 Billion in 10-Year Notes

Relateret indhold

MEXICO CITY--The Mexican unit of Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) said Thursday it has placed $1 billion in 10-year notes that yield 6.75%.

BBVA Bancomer, Mexico's largest bank, said the offer was 3.5 times oversubscribed and that investors in Asia, Europe, Latin America and the U.S. participated in the deal.

The notes priced at the bottom of the price range floated in the market, the bank said, without giving the price.

The offering was of lower tier II bonds, meaning the debt sits low in a bank's capital structure to serve as a cushion of capital for senior bondholders. This makes them riskier investments, but they yield more to compensate investors.

Nearly $23 billion of subordinated bonds have been sold by financial institutions so far this year, outpacing the $18.3 billion sold in 2011, according to research company Dealogic. The continual drop in interest rates has made it more attractive for banks to bolster their capital through issuing subordinated bonds.

Foreign institutions that need dollar-based funding have accounted for 60% of 2012 issuance, according to Dealogic, whereas U.S. banks tend to be flush with deposits.

BBVA Bancomer said the bond sale will help it continue to extend credit, thus further contributing to Mexico's economic growth.

The bank expanded its credit portfolio in Mexico last year by 9% to 609.7 billion pesos ($45.33 billion).

BBVA Bancomer is a major source of profit for its Spanish parent. In the first quarter, Mexico accounted for 430 million euros ($527 million) of BBVA's EUR1.01 billion net profit, while Spain only supplied EUR229 million.

-Patrick McGee contributed to this article.

Write to Amy Guthrie at amy.guthrie@dowjones.com

(END) Dow Jones Newswires

July 12, 2012 15:34 ET (19:34 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Novo: Konkurrent vender tilbage til stærk vækst i insulinsalget

24-07-2014 12:46:29
Amerikanske Eli Lilly, der er en stor konkurrent til Novo Nordisk på insulinmarkedet, leverede tocifret vækst i salget af sit bedst sælgende insulin, Humalog, i..

Aktier/åbning: Danske Bank dominerer efter dukseregnskab

24-07-2014 09:29:28
Danske Bank er der store historie torsdag morgen på det danske aktiemarked, efter at banken har leveret sit bedste kvartalsresultat siden 2007. Det bliver beløn..

Aktier/tendens: Danske Bank stjæler rampelyset

24-07-2014 08:14:40
På en dag, hvor de europæiske aktier forventes at handle omkring nullet fra start, tager Danske Bank fokus på det danske aktiemarked med sit regnskab for andet ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Pandora/JPMorgan: Kursmål hævet til 490 kr.
2
Danske Q2: Massiv fremgang og opjustering
3
Aktier/tendens: Danske Bank stjæler rampelyset
4
Onsdagens aktier: Bunden gik ud af GN og Pandora
5
Aktier/åbning: Danske Bank dominerer efter dukseregnskab

Relaterede aktiekurser

Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
24. juli 2014 16:40:57
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140723.1 - EUROWEB2 - 2014-07-24 16:40:57 - 2014-07-24 16:40:57 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x