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MADRID, March 6 (Reuters) - Spain's BBVA BBVA.MC has placed $2 billion in senior debt in two tranches in its first issuance in the U.S. market this year.

The bank sold a $1 billion five-year senior "preferred" bond and a $1 billion 11-year senior "non-preferred" bond attracting combined demand of 6.5 billion euros ($7.06 billion), it said late on Tuesday.

The senior preferred bond closed with a spread of 125 basis points above the equivalent U.S. Treasury, compared to an initial price of 150 basis points above government debt.

The non-preferred senior debt was set at a spread of 190 basis points above the Treasury, below an initial 215 basis points.

BBVA Securities, Bank of America Securities, J.P. Morgan, Mizuho, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities were among the underwriters.

It was BBVA's third issuance in 2024.

In January, the bank issued 1.25 billion euros in senior preferred debt with a 10-year maturity and in February issued Tier 2 subordinated debt for the same amount with a 12-year maturity.

In September of 2023, BBVA sold $1 billion in AT1 contingent convertible bonds, or so-called CoCos.

Last month, BBVA's board approved the issuance of up to 1.5 billion euros in CoCo bonds.

BBVA and Bank of Cyprus became the first banks to test demand for euro-denominated CoCo bonds in June last year after a decision by the Swiss regulator to write down $17 billion worth of Credit Suisse AT1s as part of a forced takeover by UBS UBSG.S roiled the AT1 market.

($1 = 0.9207 euros)

(Reporting by Jesús Aguado; editing by Jason Neely)

((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))

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