Cleary Gottlieb acts on BBVA México’s $1 billion offering
Cleary Gottlieb has advised a consortium of dealers, including BBVA, BofA Securities, Credit Agricole, and J.P. Morgan, in a $1 billion offering of subordinated preferred tier 2 capital notes by BBVA México. The notes, due in 2035, carry a 7.625% fixed reset rate.
The offering, which priced on February 5, 2025, is expected to settle on February 11, 2025. The notes were made available for purchase in the United States under Rule 144A and internationally under Regulation S, as part of BBVA México’s medium-term note program.
The Cleary Gottlieb team advising on the transaction was led by partner Manuel Silva (pictured left), with support from associate Alejandro Martínez-Inzunza and international lawyer Hector Figueroa. U.S. tax matters were handled by partner Matthew Brigham (pictured right) and associates Mingyu Tang and Victoria Ju. All team members are based in the firm’s New York office.
