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Banco Bil.Viz.Argent (BVA) - BBVA invites holders to tender their Securities
RNS Number : 7542F
Banco Bilbao Vizcaya Argentaria SA
20 June 2012
TO THE NATIONAL SECURITIES
EXCHANGE COMMISSION (CNMV)
Banco Bilbao Vizcaya Argentaria, S.A.("BBVA") pursuant to the securities
market legislation, hereby files the following:
RELEVANT EVENT
BBVA invites holders of the outstanding asset-backed securities (the
"Securityholders") detailed in the annexed table (the "Senior Securities" and
the "Mezzanine Securities" and, together, the "Securities", and each series of
Securities referred to in the annexed table, a "Series") to tender their
Securities for purchase by the Bank for cash. The Securities have been placed
with qualified investors, both Spanish and international.
Capitalised terms used in this announcement but not defined have the meaning
given to them in the Tender Offer Memorandum dated 20 June 2012.
Purchase price
The purchase of the Securities will be carried out under an unmodified
Dutch-auction procedure. The purchase price that BBVA will pay Securityholders
whose offers are accepted (each price, the "Purchase Price") will be equal to
the price specified by Securityholders in their Tender Instructions.
Securityholders may, in respect of Senior Securities, make competitive and
non-competitive offers with respect to the purchase price of the Securities,
which may or may not be accepted by BBVA. In the non-competitive offers
related to the Senior Securities, the Minimum Purchase Price will be
considered to be the purchase price specified by Securityholders.
In respect of Mezzanine Securities, BBVA will be able to accept offers from
the lowest purchase price tendered to the highest purchase price tendered.
As the Purchase Price applicable to each Securityholder who validly submits a
tender which is accepted by BBVA is determined by reference to the relevant
purchase price specified by such Securityholder in its Tender Instruction, the
Purchase Price payable to each such Securityholder will not necessarily be the
same.
Each Securityholder whose Securities have been validly tendered and accepted
for purchase by BBVA will also receive an accrued interest payment in respect
of any accrued but unpaid interest on the relevant Securities from (and
including) the immediately preceding interest payment date for such Securities
until (but excluding) the Settlement Date.
Acceptance Amount
BBVA will have absolute discretional powers to decide whether the Securities
offered are or are not purchased, pursuant to the terms established in the
Tender Offer Memorandum. BBVA may decide not to purchase any of the
Securities. Likewise and in particular, BBVA reserves the right to purchase a
maximum number of Securities per issue as a function of the offers received.
In determining the acceptance of the offers received BBVA´s consideration will
be the relationship between the price at which the Securities are being
offered versus the underlying risk of the Securities.
General
Securityholders may submit their offers from 20th June 2012 until 17:00 hours
(CET) on 27th June 2012. BBVA will announce the results on 28th June 2012. The
expected Settlement Date for the Invitations is 2nd July 2012. BBVA may, in
its sole discretion, extend, re-open, amend, revoke or terminate any
Invitation at any time as provided in the Tender Offer Memorandum.
The Invitations are being made as part of BBVA´s active management of its
outstanding liabilities and capital and are designed to provide liquidity to
Securityholders. BBVA expects the execution of the Invitations to have a
positive impact on its capital structure, with the objective of enhancing the
levels of BBVA´s capital provisioning and, in particular, the solvency
position of the Group.
The terms and conditions of the Invitations, governed by Spanish Law, are
contained in the Tender Offer Memorandum dated 20 June 2012. The Tender Offer
Memorandum is available to Securityholders from the tender agent, Lucid Issuer
Services Limited (the "Tender Agent"), whose contact information appears
below. Securityholders are advised to read carefully the mentioned Tender
Offer Memorandum.
The Dealer Managers will be Banco Bilbao Vizcaya Argentaria, S.A., Barclays
Bank PLC, HSBC Bank plc and Société Générale.
If you need further information on the Invitations, please contact the Tender
Agent: at the following email address:
[email protected] /+44 (0) 20 7704
0880, Attention of: David Shilson / Paul Kamminga.
Madrid, 20th June 2012
Disclaimer: Neither the Invitations nor the Tender Offer Memorandum constitute
a securities offer or an offer to purchase securities pursuant to the
Securities Exchange Act, Royal Decree 1310/2005, 4th November, and Royal
Decree 1066/2007. Thus, neither the Invitations nor the Tender Offer
Memorandum are subject to filing at the CNMV (securities exchange authority).
The Invitations are not implemented in any jurisdiction where this is not
permited under its applicable legislation, and in particular, does not
constitute an offer to purchase securities or a request to receive offers for
sale from any US Person, person that is in or resides in the United States of
America, its territories and possessions (including Puerto Rico, the Virgin
Islands of the United States,, Guam, American Samoa, the Wake Island and the
North Mariana Islands) (the "United States"), any of the states in the United
States or the District of Columbia, nor does it constitute an offer or request
addressed to any address in the United States. The Invitations are subject to
other restrictions applicable to it, which are given in detail in the Tender
Offer Memorandum.
ANNEX
SENIOR SECURITIES
Minimum Aggregate
Issuer Series ISIN Purchase Purchase Outstanding
Price Price Principal
Amount
BBVA-3 FTPYME
Fondo de Series A2(G) ES0310110012 95% €32,203,541
Titulización €215,300,000
de Activos
BBVA
HIPOTECARIO 3 Series A2
Fondo de €925,700,000 ES0314227010 94% €153,254,911
Titulización
de Activos
BBVA-4 PYME
Fondo de Series A2 ES0370458012 98% €26,765,804
Titulización €879,300,000
de Activos
BBVA AUTOS 2
Fondo de Series A ES0333761007 98% €96,238,187
Titulización €949,500,000
de Activos
BBVA CONSUMO
1 Fondo de Series A ES0333763003 96% €146,708,902
Titulización €1,447,500,000
de Activos
BBVA-5 FTPYME
Fondo de Series A1 ES0370459002 95% €80,348,015
Titulización €1,472,800,000
de Activos
BBVA-5 FTPYME
Fondo de Series A2 ES0370459010 94% €26,220,380
Titulización €200,000,000
de Activos
BBVA-5 FTPYME
Fondo de Series A3(G) ES0370459028 93% €13,320,751
Titulización €130,300,000
de Activos To be
BBVA CONSUMO determined
2 Fondo de Series A ES0313956007 pursuant to 96% €202,765,847
Titulización €1,440,700,000 the
de Activos Unmodified
BBVA FINANZIA Dutch
AUTOS 1 Fondo Series A Auction
de €744,000,000 ES0313958003 Procedure 97% €103,976,009
Titulización
de Activos
BBVA RMBS 1
Fondo de Series A2 ES0314147010 80% €914,677,260
Titulización €1,400,000,000
de Activos
BBVA RMBS 1
Fondo de Series A3 ES0314147028 55% €495,000,000
Titulización €495,000,000
de Activos
BBVA RMBS 2
Fondo de Series A2 ES0314148018 82% €1,547,150,880
Titulización €2,400,000,000
de Activos
BBVA RMBS 2
Fondo de Series A3 ES0314148026 62% €387,500,000
Titulización €387,500,000
de Activos
BBVA RMBS 2
Fondo de Series A4 ES0314148034 50% €1,050,000,000
Titulización €1,050,000,000
de Activos
BBVA-6 FTPYME
Fondo de Series A1
Titulización €1,201,900,000 ES0370460000 94% €109,124,347
de Activos
[1]
BBVA-6 FTPYME
Fondo de Series A2(G)
Titulización €215,500,000 ES0370460018 86% €93,825,381
de Activos
[1]
BBVA LEASING
1 Fondo de Series A1 ES0314209000 90% €114,291,525
Titulización €750,000,000
de Activos
BBVA LEASING
1 Fondo de Series A2 ES0314209018 To be 90% €244,766,730
Titulización €1,606,200,000 determined
de Activos pursuant to
BBVA RMBS 3 the
Fondo de Series A1 ES0314149008 Unmodified 60% €551,750,520
Titulización €1,200,000,000 Dutch
de Activos Auction
BBVA RMBS 3 Procedure
Fondo de Series A2 ES0314149016 60% €557,606,191
Titulización €595,500,000
de Activos
BBVA RMBS 3
Fondo de Series A3a ES0314149057 60% €671,905,335
Titulización €681,031,152
de Activos
BBVA RMBS 3
Fondo de Series A3b ES0314149065 60% €136,206,230
Titulización €136,206,230.40
de Activos
BBVA RMBS 3
Fondo de Series A3c ES0314149073 60% €63,562,908
Titulización €63,562,907.52
de Activos
BBVA RMBS 3
Fondo de Series A3d ES0314149081 60% €27,241,246
Titulización €27,241,246.08
de Activos
BBVA-8 FTPYME
Fondo de Series A2(G) ES0370462014 90% €197,119,075
Titulización €461,700,000
de Activos
[1] Given that the next interest and principal payment date in respect of the
BBVA 6 FTPYME Fondo de Titulización de Activos Series A1 and Series A2(G) in
accordance with and subject to their respective terms and conditions, falls on
22 June 2012, respectively, updated Pool Factors, current denominations and
aggregate outstanding principal amounts will be applicable to such Securities
from such dates, which shall be used for settlement purposes. The Bank will
announce on or before the date of Announcement of Invitation Results the
updated Pool Factors, current denominations and aggregate outstanding
principal amounts applicable to the BBVA 6 FTPYME Fondo de Titulización de
Activos Series A1 and, Series A2(G) for such settlement purposes.
MEZZANINE SECURITIES
Purchase Price Aggregate
Issuer Series ISIN Outstanding
Principal
Amount
BBVA AUTOS 1
Fondo de Series C ES0314204027 €20,504,183
Titulización de €27,000,000
Activos
BBVA-3 FTPYME
Fondo de Series B ES0310110020 €17,657,844
Titulización de €40,800,000
Activos
BBVA-3 FTPYME
Fondo de Series C ES0310110038 €8,049,900
Titulización de €18,600,000
Activos
BBVA HIPOTECARIO
3 Fondo de Series B ES0314227028 €46,525,861
Titulización de €55,900,000
Activos
BBVA HIPOTECARIO
3 Fondo de Series C ES0314227036 €15,731,895
Titulización de €18,900,000
Activos
BBVA-4 PYME Fondo Series B To be determined
de Titulización €28,800,000 ES0370458020 pursuant to the €18,409,870
de Activos Unmodified Dutch
BBVA-4 PYME Fondo Series C Auction Procedure
de Titulización €41,900,000 ES0370458038 €26,783,804
de Activos
BBVA AUTOS 2
Fondo de Series B ES0333761015 €20,500,000
Titulización de €20,500,000
Activos
BBVA AUTOS 2
Fondo de Series C ES0333761023 €30,000,000
Titulización de €30,000,000
Activos
BBVA CONSUMO 1
Fondo de Series B ES0333763011 €28,500,000
Titulización de €28,500,000
Activos
BBVA CONSUMO 1
Fondo de Series C ES0333763029 €24,000,000
Titulización de €24,000,000
Activos
BBVA-5 FTPYME
Fondo de Series B ES0370459036 €39,900,000
Titulización de €39,900,000
Activos
BBVA-5 FTPYME
Fondo de Series C ES0370459044 €57,000,000
Titulización de €57,000,000
Activos
BBVA CONSUMO 2
Fondo de Series B ES0313956015 €16,500,000
Titulización de €16,500,000
Activos
BBVA CONSUMO 2
Fondo de Series C ES0313956023 €42,800,000
Titulización de €42,800,000
Activos
BBVA FINANZIA
AUTOS 1 Fondo de Series B ES0313958011 To be determined €26,800,000
Titulización de €26,800,000 pursuant to the
Activos Unmodified Dutch
BBVA FINANZIA Auction Procedure
AUTOS 1 Fondo de Series C ES0313958029 €29,200,000
Titulización de €29,200,000
Activos
BBVA RMBS 1 Fondo Series B
de Titulización €120,000,000 ES0314147036 €120,000,000
de Activos
BBVA RMBS 1 Fondo Series C
de Titulización €85,000,000 ES0314147044 €85,000,000
de Activos
BBVA RMBS 2 Fondo Series B
de Titulización €112,500,000 ES0314148042 €112,500,000
de Activos
BBVA RMBS 2 Fondo Series C
de Titulización €100,000,000 ES0314148059 €100,000,000
de Activos
BBVA-6 FTPYME
Fondo de Series B ES0370460026 €50,300,000
Titulización de €50,300,000
Activos
BBVA-6 FTPYME
Fondo de Series C ES0370460034 €32,300,000
Titulización de €32,300,000
Activos
BBVA LEASING 1
Fondo de Series B ES0314209026 €82,500,000
Titulización de €82,500,000
Activos
BBVA LEASING 1
Fondo de Series C ES0314209034 €61,300,000
Titulización de €61,300,000
Activos
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGZVNGMGZZG -0- Jun/20/2012 07:33 GMT
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