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Sabadell to Issue Securities for EUR750 Mln

Dow Jones Newswires ·  Nov 9, 2021 14:10 
   By Cecilia Butini

Banco de Sabadell SA said late Monday that it has agreed to issue perpetual preferred securities in an aggregate principal amount of 750 million euros ($869.1 million).

The Spanish bank said the securities are convertible to newly issued ordinary shares if the common equity Tier 1 ratio falls below 5.125%, and that their remuneration is set to 5% a year.

The reference period for the remuneration starts on and includes the issue date and ends on and excludes Nov 19., 2027.

Write to Cecilia Butini at cecilia.butini@wsj.com

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