BBVA sells 1.0 bln euro auto backed bond -leads

Newswire

LONDON, Oct 26 (Reuters) - BBVA , Spain's second largest bank by assets, sold a 1.0 billion euro bond backed by auto loans, lead managers BBVA and JP Morgan said on Tuesday. The three tranche deal offered notes with ratings ranging from top notch triple-A to single-A. The 950 million euro class A notes pay a coupon of 3-month Euribor plus 13 basis points, the leads said. Legal maturity for the notes is in June 2016, and their weighted average life ranges from 3.42 to 5.42 years.

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