Several firms in $600m offering of BBVA Mexico’s Senior Notes
Simpson Thacher has represented BBVA Mexico, through its Texas Agency, in connection with the offering of USD $600 million of its 5.250% Senior Notes due 2029 under its USD $10 billion Medium-Term Note Program.
BBVA Securities, Barclays Capital, BofA Securities, and J.P. Morgan Securities LLC acted as bookrunners in the offering of the Notes, being advised by Ritch Mueller and Cleary Gottlieb, locally and internationally, respectively; while Galicia Abogados advised BBVA in Mexico.
The offering was priced on September 3 and settled on September 10.
The Notes were offered and sold under exemptions from registration with the Securities and Exchange Commission under Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
BBVA México is the principal subsidiary of Grupo Financiero BBVA México, a holding company authorized to incorporate and operate as a subsidiary financial group of BBVA España. BBVA México is one of the main multiple purpose banks incorporated under Mexican law and is present in all 32 Mexican states. As of December 31, 2023, based on assets, loans and deposits, BBVA Mexico was the largest bank in Mexico according to data from the National Banking and Securities Commission.
Simpson Thacher’s team consisted of partners Juan M. Naveira (pictured top left) and Jonathan Cantor (pictured top centre), counsel Kirsten L. Davis, associates Alejandro de Ramón-Laca and Edward Grais, and international associates José Miguel Colín and Alberto Mattos.
Cleary’s corporate team included partner Manuel Silva (pictured top right) and associates Alejandro Martinez-Inzunza and Nicole Mueller. Partner Matthew Brigham and associates Jeeihn (Adrian) Lee and Mingyu Tang advised on U.S. tax matters. All lawyers are based in New York.
Simpson Thacher’s team was led by partners Pablo Perezalonso Eguía (pictured bottom left) and Eric Silberstein Lerner (pictured bottom right), with support from attorneys Ernesto Talamás Velázquez and Pablo Rueda Carmona.
