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# BBVA places CHF 390 million green bond, its ninth debt issue of 2026
- URL: https://www.theglobalbanker.com/bbva-places-chf-390-million-green-bond-its-ninth-debt-issue-of-2026/
- Published: 2026-11-03T22:02:28.000Z
- Updated: 2026-11-03T22:02:28.000Z
- Description: BBVA sold CHF 390 million (€425 million) of four- and seven-year green senior preferred bonds in two tranches, at SARON mid-swap plus 78 and 93 basis points, to strengthen its buffer of liabilities eligible for MREL.
- Author: TGB Editorial Team
- Tags: ESG, Europe, #newsroom, #needs-photo

[BBVA](https://www.theglobalbanker.com/rankings/) has placed CHF 390 million, or €425 million, of senior preferred green bonds in the Swiss market in two tranches, maturing in four years, in 2030, and in seven years, in 2033, the bank said. UBS and Commerzbank acted as joint bookrunners.

The first tranche, of CHF 205 million, was priced at SARON mid-swap plus 78 basis points with a coupon of 1.305%, and the second, of CHF 185 million, at plus 93 basis points with a coupon of 1.5375%. The deal is part of BBVA Group's 2026 funding plan and is meant to strengthen its buffer of liabilities eligible for the MREL requirement.

BBVA is one of the three large groups that dominate the concentrated banking system of [Spain](https://www.theglobalbanker.com/market-spain/), alongside Santander and CaixaBank, according to TGB's market profile, and the five largest credit institutions held 67.4% of Spanish sector assets in 2025, according to ECB structural indicators.

## BACK IN SWISS FRANCS

The Swiss market is not new to the bank. Its first debt issue in Switzerland, a senior non-preferred deal, closed at 160 million Swiss francs, above an initial offer of CHF 150 million, with a 6.5-year term maturing on 27 August 2026\. Its earlier green bonds include a CHF 425 million senior preferred bond issued in 2022.

## NINE DEALS THIS YEAR

This is BBVA's ninth debt issue of the year. In January it placed €2,000 million of senior non-preferred debt in two tranches, its largest euro issue in 20 years, and in February $2,500 million of senior non-preferred debt, its largest ever in that currency. In April it sold $2,250 million, including $1,000 million of AT1 instruments.

In June BBVA placed €1,250 million of senior non-preferred green bonds and €2,250 million of covered bonds, and in September a further €1,250 million of senior preferred green bonds and £600 million of senior non-preferred bonds.

## THE SUSTAINABILITY TARGET

BBVA said it channelled €120 billion into sustainable business between January and September 2026, up 27% on the same period last year, taking the total since 2025 to €254 billion, or more than 36% of its €700 billion target for 2025-2029.

Of the total channelled, €195 billion, or 77%, went to environmental activities and €59 billion, or 23%, to social initiatives. Spain accounted for 32% of the nine-month volume, followed by Mexico with 16% and Türkiye with 13%.

## THE TGB VIEW

BBVA ranks 15th in the TGB Bank Rankings for Europe,, with a 2025 return on equity of 18.3% and equity of 6.7% of assets. At CHF 390 million it is smaller than the CHF 425 million green bond BBVA sold in Swiss francs in 2022, but larger than its CHF 160 million Swiss debut. Its €700 billion sustainable business goal more than doubles the €300 billion it set for 2018-2025, and BBVA has reached more than 36% of that goal. COP31 runs in Antalya from 9 to 20 November, with BBVA as its Global Banking Partner.

*Related: [BBVA channels €120 billion into sustainable business in nine months, up 27%](https://www.theglobalbanker.com/bbva-channels-eur120-billion-into-sustainable-business-in-nine-months-up-27/)*