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BBVA Compass Bancshares, Inc. Announces Closing of $1 Billion Bank Notes Offerings

2014-09-29 11:49 ET - News Release

- Bank closes first debt offering in seven years
- $400 million of 1.850% Senior Notes due 2017
- $600 million of 2.750% Senior Notes due 2019

HOUSTON, Sept. 29, 2014 /PRNewswire/ -- BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company ("BBVA Compass"), announced today that its wholly-owned subsidiary Compass Bank has closed the sale of $400 million in aggregate principal amount of its 1.850% unsecured senior notes due 2017 ("2017 Notes") and $600 million in aggregate principal amount of its 2.750% unsecured senior notes due 2019 ("2019 Notes" and, together with the 2017 Notes, the "Notes"). The 2017 Notes were sold at a price of 99.951% of par and the 2019 Notes were sold at a price of 99.768% of par.

BBVA Compass corporate logo

The 2017 Notes will mature on September 29, 2017 and will bear interest at a rate of 1.850% per annum, payable semi-annually in arrears on March 29 and September 29 of each year, beginning on March 29, 2015. The 2019 Notes will mature on September 29, 2019, and will bear interest at a rate of 2.750% per annum, payable semi-annually in arrears on March 29 and September 29 of each year, beginning on March 29, 2015.

The Company intends to use the proceeds of the offering for general corporate purposes, as well as serving as a source of diversification of its funding base.

Citigroup Global Markets Inc., BBVA Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering of the Notes.

About BBVA Group
BBVA Compass Bancshares, Inc. is a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.

About BBVA Compass
BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose lead subsidiary, BBVA Compass, operates 673 branches, including 342 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and recently earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. Additional information about BBVA Compass can be found under the Investor Relations tab at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com

Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding our future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to the Company, constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect the Company's views regarding future events and financial performance. Such statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond the Company's control, that could cause actual results to differ materially from anticipated results. If the Company's assumptions and estimates are incorrect, or if the Company becomes subject to significant limitations as the result of litigation or regulatory action, then the Company's actual results could vary materially from those expressed or implied in these forward-looking statements. The forward-looking statements are and will be based on the Company's then current views and assumptions regarding future events and speak only as of their dates made. The Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by securities law. For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 28, 2014, as updated by our subsequent SEC filings.

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SOURCE BBVA Compass Bancshares, Inc.

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