BBVA Corporate & Investment Banking (CIB) launched a three-part senior non-preferred debt issuance in U.S. Dollars on Monday, according to a statement from the bank. The offering included two three-year tranches – one with a fixed rate and the other with a variable rate – alongside a 10-year tranche bearing a fixed interest rate.
BBVA, BNP Paribas, Citi, RBC Capital Markets, Standard Chartered, and Wells Fargo Bank served as placement agents for the issuance. The move comes as multinational banks increasingly focus on strengthening their global transaction banking capabilities, particularly in the U.S. Market, as evidenced by BBVA CIB’s recent expansion of its U.S. Team.
The debt issuance occurs as a broader industry trend emerges around improving cross-border payment infrastructure. Ten major multinational banks – Barclays, BBVA, BNP Paribas, Citi, Deutsche Bank, HSBC, ING, Intesa Sanpaolo, J.P. Morgan, and Société Générale – have committed to building reach for One-Leg Out Instant Credit Transfers (OCT Inst) with a target implementation date of 2027, aligning with the G20 Roadmap for Enhancing Cross-Border Payments. These institutions will utilize EBA CLEARING’s RT1 System to facilitate these transfers.
EBA CLEARING announced the commitment from the ten banks in September 2025, aiming to encourage wider market participation in the timely implementation of OCT Inst. The pan-European RT1 OCT Inst Service was initially implemented in November 2024, supporting the OCT Inst Scheme created by the European Payments Council (EPC). The initiative seeks to improve the speed and efficiency of euro-denominated cross-border payments.
The development of OCT Inst is driven by a collective industry action, responding to calls from the Euro Banking Association (EBA) to prepare for the recent standard. The participating banks represent a significant portion of the financial institutions currently using EBA CLEARING’s RT1 System.
