Capital Markets

Our firm constantly represents issuers, international and local broker dealers, investment banks in private and public offerings of debt  and equity securities by Mexican issuers in the international markets.

Our firm also has a strong domestic securities practice, having participated in the development of the local market. Our domestic expertise covers equity, debt and structured securities offerings, including asset-backed securities (involving all asset classes, such as toll road receivables, auto loans, credit card receivables, commercial real estate and residential mortgages), CKDs, CERPIs, FIBRAS-E (MLPs), real estate FIBRAS (REITs) and bank capitalization notes. 

We also specialize in the establishment and operation of investment funds, as well as in the registration of non-Mexican issuers in the Mexican market and have advised non-Mexican issuers in respect of the offering of non-Mexican securities in Mexico (including through employee stock offerings). 

Related professionals


Featured transactions


We represented BofA, Goldman Sachs, J.P. Morgan, Scotia Capital and SMBC Nikko, as underwriters, in connection with the offering by the United Mexican States of its (i) USD$2 billion 6.000% Global Notes due 2030, (ii) USD$4 billion 6.875% Global Notes due 2037 and (iii) USD$2.5 billion of its 7.375% Global Notes due 2055.

CLIENT:

BofA Securities
Goldman Sachs
J.P. Morgan Securities
Scotia Capital
SMBC Nikko

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2025

VALUE:

USD$8.5 Billion

OTHER FIRMS:

Sullivan & Cromwell (US Counsel to banks) Cleary Gottlieb (US Counsel to Mexico)

Abajo Arriba

We represented Gruma in connection with the offering of its USD$800 million 5.390% Senior Notes due 2034 and 5.761% due 2054, issued under foreign legislation.

CLIENT:

Gruma

PRACTICE AREA:

Capital Markets

CLOSING DATE:

December 2024

VALUE:

US$800 million

OTHER FIRMS:

Creel, García Cuellar, Aiza y Enríquez - Mexican counsel to initial purchasers Davis Polk - US counsel to initial purchasers Baker Mckenzie - US counsel to Gruma

Abajo Arriba

We represented Goldman Sachs, Barclays Capital, Morgan Stanley, and MUFG Securities Americas, as initial purchasers, in connection with the offering by Banorte (Cayman Islands branch), of its USD$750 million 8.375% Perpetual 6.5-Year Callable Subordinated Non-Preferred Non-Cumulative Tier 1 Capital Notes, and its USD$750 million 8.750% Perpetual 10.5-Year Callable Subordinated Non-Preferred Non-Cumulative Tier 1 Capital Notes.

CLIENT:

Goldman Sachs, Barclays Capital, Morgan Stanley, MUFG Securities Americas

PRACTICE AREA:

Capital Markets

CLOSING DATE:

November 2024

VALUE:

USD$1,500 million

OTHER FIRMS:

Cleary Gottlieb Steen & Hamilton LLP as New York counsel to the initial purchasers. White & Case LLP as New York counsel to Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte. White & Case, S.C. as Mexican counsel to Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte.

Abajo Arriba

We represented Barclays, Morgan Stanley, Apollo Global Securities, BBVA Securities, Citigroup, ING Financial Markets and J.P. Morgan Securities, in connection with the offering by Aeroméxico of its USD$1.1 billion 8.250% Senior Secured Notes due 2029, and 8.625% due 2031, issued under foreign legislation.

CLIENT:

Barclays Capital

PRACTICE AREA:

Capital Markets

CLOSING DATE:

November 2024

VALUE:

USD$1,100 million

OTHER FIRMS:

Davis Polk (Issuer US Counsel) Milbank (Bank's US Counsel) Sainz Abogados (Issuer Mexican Counsel)

Abajo Arriba

Related Awards


Pro Bono Leading Lights

Latin Lawyer y The Vance Center

Top Tier Firm

The Legal 500

Top Tier Firm

Chambers Latam

Top Tier Firm

IFLR1000

Firm of the Year in Capital Markets

IFLR

Featured news


14

January 14, 2025

Capital Markets

Mexico makes first international bond issue of the Sheinbaum administration

Ritch Mueller represented BofA, Goldman Sachs, J.P. Morgan, Scotia Capital and SMBC Nikko, as underwriters, in connection with the offering by the United Mexican States of its (i) USD$2 billion 6.000% Global Notes due 2030, (ii) USD$4 billion 6.875% Global Notes due 2037 and (iii) USD$2.5...

18

December 18, 2024

Ritch Mueller

Ritch Mueller - New Counsel Announcement 2025

We are pleased to announce the appointment of the following Associates as Counsel at our firm: Luis Miguel Posadas Yáñez, who joined the firm in 2013. He has more than 18 years of experience advising underwriters and issuers in debt and equity offerings in Mexico and abroad....

13

December 13, 2024

Capital Markets

Mexico’s Gruma raises US$800 million in debt tap

Ritch Mueller represented Gruma in connection with the offering of its USD$800 million 5.390% Senior Notes due 2034 and 5.761% due 2054, issued under foreign legislation. Learn more about our experience and team of professionals in the Capital Markets practice area.  Read note (subscription...

09

December 09, 2024

Capital Markets

Ritch Mueller counsels Fonplata on CEBURE programme

Ritch Mueller represented Fonplata, in the establishment of a long-term CEBURE program before the Mexican Securities and Exchange Commission (CNBV) for a total authorized amount of up to MXN$20,000 million. Learn more about our experience and team of professionals in the Capital Markets practice...

Events


08

08 October 2024

Capital Markets

Latin Lawyer Live Private Equity

On October 8, 2024, the Latin Lawyer Live: Private Equity 2024 event was held at the offices of Simpson Thacher & Bartlett in New York. This event will brought together professionals, fund managers and investors to discuss the trajectory of the private equity industry in Latin America. ...

25

25 January 2024

Capital Markets

LatinFinance: Latin America Capital Markets Summit

LatinFinance held the 2nd edition of the Latin America Capital Markets Summit, where the region’s leading issuers and investors gathered for insightful discussions on current trends and pivotal topics within the financial sector, including the impact of the global interest rate cycle,...

27

27 November 2023

Capital Markets

Bonds, Loans & ESG Capital Markets | Latin America & Caribbean 2023

Bonds & Loans hosted the largest and most senior corporate & investment banking event in LatAm and the Caribbean, bringing together 500+ leading governments, corporates, investors, banks, law firms, regulators and service providers from over 30 countries, and 65+ expert speakers. Our...

16

16 October 2023

Capital Markets

REDD Intelligence: ISI Global Emerging Markets Annual Summit

REDD Intelligence hosted the ISI Emerging Markets Annual Summit in London, during which insightful conversations were held about the latest and upcoming developments in emerging markets.  Our partner, Jean Paul Farah, was among the distinguished panel of experts who led discussions on pivotal...

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