Spain's first collateralized loan obligation (CLO)transaction will launch in the coming weeks, originator Banco Bilbao Vizcaya Argentaria (BBVA), one of the country's largest banks, confirmed Feb.18. Termed the Fondo de Titulizacion de Activos BBVA-1, the euro (Eur)1,115.3 million floating-rate bonds, are already stirring wide market interest, said Carmen Perez de Muniain, chief executive officer (CEO) for the management company, BBV Titulizacion. "This is a good Spanish portfolio, the road-show has already started and we are seeing plenty of interest, we're also viewing it as a route to demonstrate the potential returns on Spanish risk exposure to the investor base," she said. "We're expecting to start selling the bonds at the end of the month." Ms. Muniain added that the bank...
Companies mentioned in this report are:
- Spain (Kingdom of)
- Banco Bilbao Vizcaya S.A.
- Banco Bilbao Vizcaya Argentaria S.A.
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