Bancomext $700 million note issue

Overview:

• Bancomext has issued $700 million of Tier 2 subordinated preferred capital notes.
• The notes have a yield of 3.8% and reach maturity in 2026.
• Bancomext is Mexico's state-owned development bank.
• BBVA Securities and Credit Suisse Securities acted as initial purchasers.
• HSBC Securities and Merrill Lynch Pierce Fenner & Smith acted as representatives of the initial purchasers 
• Galicia Abogados (Guillermo Pérez Santiago) and Simpson Thacher & Bartlett (Jaime Mercado) advised the issuer.
• Shearman & Sterling (Stuart Fleischmann, Grissel Mercado) advised the initial purchasers.
• Ritch Mueller Heather & Nicolau (Luis Nicolau, José Berrueta Ochoa) advised the representatives of the initial purchasers.

Rani Mehta - Journalist - Latin America