Fixed income presentation
In this section you can download Banco Sabadell Group’s fixed income presentation.
- 3Q24 Fixed income presentation 852.0 KB
- 2Q24 Fixed income presentation 1135.0 KB
- 1Q24 Fixed income presentation 1104.0 KB
- 4Q23 Fixed income presentation 1298.0 KB
Ratings
| Issuer rating | Covered bonds | ||||
|---|---|---|---|---|---|
| Fitch Ratings (19.06.2024) |
Senior Preferred Long-term Short-term Outlook |
BBB+ BBB F2 Stable |
Fitch Ratings | N/A | |
| Moody's Investor Service (1) (15.10.2024) |
Long-term Short-term Outlook |
Baa2 P-2 Positive |
Moody's Investor Service | Aa1 (30.09.2023) |
Moody's Investor Service |
| Morningstar DBRS (07.06.2024) |
Long-term Short-term Outlook |
A (low) R-1 (low) Stable |
Morningstar DBRS | AAA (28.06.2024) |
Morningstar DBRS |
| S&P Global Ratings (2) (29.04.2024) |
Long-term Short-term Outlook |
BBB+ A-2 Positive |
S&P Global Ratings | N/A | |
A rating is the classification of the solvency of an institution for certain debt issues or access to credit. It also defines the global solvency rating of a public or private company, of an institution and general governments and even states.
The ratings may be revised, suspended or withdrawn by the rating agency at any time. The ratings does not represent a recommendation to buy, sell or hold securities.
Historic evolution of long-term ratings:
(1) The short-term rating corresponds to deposits.
(2) Copyright by Standard & Poor's, A division of the McGraw-Hill Companies, Inc. Reproduced with permission of Standard & Poor's.
(Note) The access to the information contained in this page implies the knowledge and acceptance of the following conditions.
Fixed income issuance and documentation
Domestic issuance programme
The Universal Registration Document is a document that provides full details about Banco Sabadell to potential subscribers of Banco Sabadell’s debt issues. The document has been verified by and registered with the National Securities Market Commission (CNMV).
Universal Registration Document 2024 (Spanish version)
Supplement of Universal Registration Document 2023 (Spanish version)
Universal Registration Document 2023 (Spanish version)
The prospectus of the fixed income securities programme relates to a programme in which fixed income securities are issued on the Spanish market. The prospectus has been verified by and registered with the National Securities Market Commission (CNMV).
Fixed Income Securities Programme 2024 (Spanish version)
Fixed Income Securities Programme 2023 (Spanish version)
Fixed Income Securities Programme 2022 (Spanish version)
Fixed Income Securities Programme 2021 (Spanish version)
Fixed Income Securities Programme 2020 (Spanish version)
Fixed Income Securities Programme 2019 (Spanish version)
Promissory notes are discount fixed income securities, which are fully transferable. The Spanish National Securities Market Commission (CNMV) has verified compliance with the requirements for admission to trading of the promissory notes on the AIAF (Spanish fixed-income market).
2024 Programme for Promissory Notes (Spanish version)
2023 Programme for Promissory Notes (Spanish version)
Euro Medium Term Note
The EMTN prospectus relates to a programme under which fixed income securities are issued. The prospectus has been verified by and registered with the Irish Stock Exchange.
EMTN Programme Supplement 2Q 2024
EMTN Programme Supplement 3Q 2024
EMTN Programme Supplement 1Q 2024
EMTN Programme Supplement 2Q 2023
EMTN Programme Supplement 3Q 2023
EMTN Programme Supplement 4Q 2023
EMTN Programme Supplement 2Q 2022
EMTN Programme Supplement 3Q 2022
EMTN Programme Supplement 4Q 2022
EMTN Programme Supplement 1Q 2023
EMTN Programme Supplement 2Q 2021
EMTN Programme Supplement 3Q 2021
EMTN Programme Supplement 4Q 2021
EMTN Programme Supplement 1Q 2022
EMTN Programme Supplement ESG Framework
EMTN Programme Supplement 2Q 2020
EMTN Programme Supplement 3Q 2020
EMTN Programme Supplement 4Q 2020
EMTN Programme Supplement 1Q 2021
EMTN Programme Supplement 2Q 2019
EMTN Programme Supplement 3Q 2019
EMTN Programme Supplement 4Q 2019
EMTN Programme Supplement 1Q 2018
EMTN Programme Supplement 2Q 2018
EMTN Programme Supplement 3Q 2018
EMTN Programme Supplement 4Q 2018
EMTN Programme Supplement 1Q 2017
EMTN Programme Supplement 2Q 2017
EMTN Programme Supplement 3Q 2017
EMTN Programme Supplement 4Q 2017
| Description | Issue date | Coupon | Nominal amount | Maturity date | ISIN | Documents |
|---|---|---|---|---|---|---|
| Senior Preferred Debt 2/2024 | 13.09.2024 | 5.000% | ₤ 450 Million | 13.10.2029 | XS2898158485 | Final terms |
| Subordinated Debt 1/2024 | 27.03.2024 | 5.125% | € 500 Million | 27.06.2034 | XS2791973642 | Final terms |
| Senior Non Preferred Debt 1/2024 | 13.03.2024 | 4.250% | € 500 Million | 13.09.2030 | XS2872109016 | Final terms |
| Senior Preferred Debt 1/2024 | 15.01.2024 | 4.000% | € 750 Million | 15.01.2030 | XS2745719000 | Final terms |
| Senior Non Preferred Debt 2/2023 | 08.09.2023 | 5.500% | € 750 Million | 08.09.2029 | XS2677541364 | Final terms |
| Senior Preferred Debt 1/2023 | 07.06.2023 | 5.000% | € 750 Million | 07.06.2029 | XS2598331242 | Final terms |
| Subordinated Debt 1/2023 | 16.02.2023 | 6.000% | € 500 Million | 16.08.2033 | XS2588884481 | Final terms |
| Senior Non Preferred Debt 1/2023 | 07.02.2023 | 5,250% | € 750 Million | 07.02.2029 | XS2583203950 | Final terms |
| Senior Non Preferred Debt 3/2022 | 23.11.2022 | 5.500% | € 75 Million | 23.11.2032 | XS2560673829 | Final terms |
| Senior Non Preferred Debt 2/2022 | 08.09.2022 | 5.375% | € 500 Million | 08.09.2026 | XS2528155893 | Final terms |
| Senior Preferred Debt 1/2022 | 10.11.2022 | 5.125% | € 750 Million | 10.11.2028 | XS2553801502 | Final terms |
| Senior Non Preferred Debt 1/2022 | 24.3.2022 | 2.625% | € 750 Million | 24.3.2026 | XS2455392584 | Final terms |
| Senior Non Preferred Debt 1/2021 | 16.6.2021 | 0.875% | € 500 Million | 16.6.2028 | XS2353366268 | Final terms |
| Subordinated Debt 1/2021 | 15.01.2021 | 2.500% | € 500 Million | 15/4/2031 | XS2286011528 | Final terms |
| Senior Preferred Debt 2/2020 | 11.09.2020 | 1.125% | € 500 Million | 11/3/2027 | XS2228245838 | Final terms |
| Subordinated Debt 1/2020 | 17.1.2020 | 2.000% | € 300 Million | 17.1.2030 | XS2102931677 | Final terms |
| Senior Preferred Debt 2/2019 | 07.11.2019 | 0.625% | € 500 Million | 07.11.2025 | XS2076079594 | Final terms |
| Senior Non Preferred Debt 2/2019 | 27.09.2019 | 1.125% | € 500 Million | 27.03.2025 | XS2055190172 | Final terms |
| Senior Preferred Debt 1/2019 | 22.07.2019 | 0.875 % | € 1,000 Million | 22.07.2025 | XS2028816028 | Final terms |
| Senior Non Preferred Debt 1/2019 | 10.05.2019 | 1.750% | € 1,000 Million | 10.05.2024 | XS1991397545 | Final terms |
| Subordinated Debt 1/2018 | 12.12.2018 | 5.375% | € 500 Million | 12.12.2028 | XS1918887156 | Final terms |
| Senior Preferred Debt 1/2018 | 07.09.2018 | 1.625% | € 750 Million | 07.03.2024 | XS1876076040 | Final terms |
| Subordinated Debt 1/2016 | 06.05.2016 | 5.625% | € 500 Million | 06.05.2026 | XS1405136364 | Final terms |
Preferred Securities
- Issues
| Description | Issue Date | Rate of interest | Nominal amount | ISIN | Offering Circular | Board of Directors’ Report | Special Report |
|---|---|---|---|---|---|---|---|
| AT1 Preferred Securities 1 / 2023 | 18.01.2023 | 9.375% | €500 M | XS2471862040 | Descargar | Descargar | Descargar |
| AT1 Preferred Securities 2 / 2021 | 19.11.2021 | 5.000% | €750 M | XS2389116307 | Download | Download | Download |
| AT1 Preferred Securities 1 / 2021 | 15.03.2021 | 5.750% | € 500 M | XS2310945048 | Download | Download | Download |
Medium and Long Term Notes
Sustainable Development Goals Bonds
- Green Bonds Impact & Allocation Report
Covered Bonds
- Mortgage Pool
(Information as at September 2024)
- ECBC Harmonised Transparency Template
(Information as at 30.09.2024)
http://www.coveredbondlabel.com
HTT ECBC covered bond label - Mortgage
HTT ECBC covered bond label - Public sector - Link disabled -
- Issues:
| Description | Issue Date | Nominal Amount | Maturity Date | Documents (Spanish version) |
|---|---|---|---|---|
| Covered bonds 3/2024 | 15.10.2024 | € 750 Million | 15.04.2030 | Condiciones Finales CH 3/2024 |
| Covered bonds 2/2024 | 05.06.2024 | € 1,000 Million | 05.06.2034 | Condiciones Finales CH 2/2024 |
| Covered bonds 1/2023 | 28.02.2023 | € 1,000 Million | 28.08.2026 | Prospectus |
| Covered bonds 2/2022 | 30.05.2022 | € 1,000 Million | 30.05.2029 | Prospectus |
| Covered bonds 1/2020 | 20.01.2020 | € 1,000 Million | 10.02.2028 | Prospectus |
| Covered bonds I/2017 | 26.04.2017 | € 1,000 Million | 26.04.2027 | Prospectus |
| Covered bonds II/2016 | 20.10.2016 | € 1,000 Million | 10.10.2023 | Prospectus |
| Covered bonds I/2016 | 10.06.2016 | € 1,000 Million | 10.06.2024 | Prospectus |
Securitisation
- Asset Backed Securities
Asset Backed Securities are fixed income securities issued by a Securitisation Fund. A Securitisation Fund is composed of assigned credit rights on the asset side and asset backed securities on the liability side. It normally includes additional credit enhancements provided by the actual assignor of the credit rights. The Fund constitutes a separate pool of assets with no legal personality and is administered by a Fund Management Company which acts as the legal representative and fund manager pursuant to Royal Decree 926/1998. Banco Sabadell has assigned assets to the following Securitisation Funds:
| Description | Issue date | Nominal amount | Documents (Spanish version) |
|---|---|---|---|
| SABADELL CONSUMO 3, F.T. | 09.2024 | € 759.2 Million | Prospectus (English version) |
| SABADELL CONSUMO FINANCE 1, F.T. | 09.2023 | € 659.5 Million | Prospectus (English version) |
| SABADELL CONSUMO 2, F.T. | 07.2022 | € 759.1 Million | Prospectus (English version) |
| SABADELL CONSUMO 1, F.T. | 09.2019 | € 1,087 Million | Prospectus (English version) |
| TDA CAM 9 F.T.A | 07.2007 | € 1,515 Million | Prospectus |
| CAIXA PENEDES PYMES 1 TDA, F.T.A. | 06.2007 | € 790 Million | Prospectus |
| TDA CAM 8 F.T.A | 03.2007 | € 1,712.8 Million | Prospectus |
| FTPYME TDA CAM 4 F.T.A | 12.2006 | € 1,529.3 Million | Prospectus |
| TDA CAM 7 F.T.A | 10.2006 | € 1,750 Million | Prospectus |
| CAIXA PENEDES 1 TDA, F.T.A. | 10.2006 | € 1,000 Million | Prospectus |
| TDA CAM 6 F.T.A | 04.2006 | € 1,300 Million | Prospectus |
| TDA CAM 5, F.T.A | 10.2005 | € 2,000 Million | Prospectus |
| TDA CAM 4, F.T.A | 03.2005 | € 2,000 Million | Prospectus |
For more information, please visit the websites of the securitisation fund management companies:
- Retention Undertaking
Pursuant to article 6 of Regulation (EU) 2017/2402 of 12 December, establishing a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EE, 2009/138/EC and 2011/61/EU and Regulations (EC) 1060/2009 and (EU) 648/2012 (Securitisation Regulation), Banco de Sabadell, S.A. hereby gives notice that it complies with the terms required by article 6 of the aforesaid Regulation (EU) 2017/2402, with regard to the retention on an ongoing basis of a material net economic interest in the securitisation funds of which it is the originator, in accordance with article 6.3, and we declare that Banco de Sabadell, S.A. has not carried out any activity (credit risk hedging, sale, taking short positions, etc.) that may undermine the application of the retention requirement. To this end, “on an ongoing basis” shall be understood to mean that the net economic interest retained shall not be the subject of any credit risk reduction, short positions or any other kind of hedging activity, nor shall it be sold. For these purposes, protection of the net economic interest shall not be considered a hedge, within the meaning of article 6 paragraph 1 of the aforesaid Regulation (EU) 2017/2402, and will only be permitted if it does not provide the retaining institution with a hedge against credit risk on securitisation positions or exposures held..
Current details concerning the aforesaid retention requirement may be found in the Regular Information published about the aforesaid securitisation funds on the following websites:
Preference shares and subordinated debt tender and public share offering
Note regarding the preference shares and subordinated debt tender of Banco CAM S.A. and public share offering of Banco Sabadell, S.A.
Download (Spanish version)
Note regarding the preference shares tender and public share offering of Banco Sabadell, S.A.
Download (Spanish version)
Banco Gallego's subordinated debt and preferred shares management
Prospectus and brochure regarding the issuance of Mandatory Subordinated Convertible Bonds of Banco de Sabadell, S.A Series III/2013 and IV/2013 in relation to Banco Gallego´s Subordinated Debt and Preferred Securities Management.
Download summary (Spanish version)
Download prospectus (Spanish version)
Tender of Mandatory Subordinated Convertible Bonds and issuance of Mandatory Surbordinated Convertible Bonds
Prospectus and brochure regarding the Tender of Mandatory Subordinated Convertible Bonds Series I/2009 and I/2010 and issuance of Mandatory Subordinated Convertible Bonds Series I/2013 and II/2013.
Download prospectus (Spanish version)
Download brochure (Spanish version)
Fixed income analysts
Fixed income analysts coverage:
|
Broker |
Analyst |
|---|---|
|
Autonomous |
Corinne Cunningham |
|
Barclays |
Soumya Sarkar, David Alam |
|
BBVA |
Michael Gaynor |
|
BoAML |
Richard Thomas, Luis Garrido, Katharine Lennon |
|
Citi |
Lee Street |
|
CreditSights Limited |
Paola Biraschi |
|
JPMorgan |
Drishti Sharma |
|
Raiffeisen Bank International AG |
Werner Schmitzer |
|
Société Générale |
Paul Fenner, Brajesh Kumar, Violeta Baraboi |
|
RBC Capital Market |
Marc Sánchez |