Spanish bank BBVA on Thursday submitted a voluntary tender offer to buy its smaller competitor, Sabadell, on the same terms anticipated last week.

Spain's second-largest bank said it was offering an exchange ratio of 1 newly issued BBVA share for every 4.83 Sabadell shares.

(Reporting by Jesús Aguado; editing by Emma Pinedo; edited in Spanish by Benjamín Mejías Valencia)