<div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">Ritch Mueller 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.<br>&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">Learn more about our experience and team of professionals in the <a style="-webkit-font-smoothing:antialiased;background-color:transparent;box-sizing:border-box;color:rgb(9, 63, 46);font-family:arial-regular, arial, verdana;text-decoration:none;" href="/en/areas-de-practica/mercados-de-capitales" target="_blank"><u style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">Capital Markets</u></a> practice area.&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;"><a style="-webkit-font-smoothing:antialiased;background-color:transparent;box-sizing:border-box;color:rgb(9, 63, 46);font-family:arial-regular, arial, verdana;text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://latinlawyer.com/article/banorte-completes-us15-billion-offering?utm_source=Beccar%2BVarela%2Bpromotes%2Btwo%2Bto%2Bpartner&amp;utm_medium=email&amp;utm_campaign=Latin%2BLawyer%2BAlerts"><u style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">Read note</u></a> (subscription site)<br>&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">Other media: <a style="-webkit-font-smoothing:antialiased;background-color:transparent;box-sizing:border-box;color:rgb(9, 63, 46);font-family:arial-regular, arial, verdana;text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://thelatinamericanlawyer.com/ritch-mueller-and-cleary-help-in-banorte-offering/"><u style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">The Latin American Lawyer</u></a>&nbsp;<br>&nbsp;</div><div style="-webkit-font-smoothing:antialiased;box-sizing:border-box;">&nbsp;</div>

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Banorte completes US$1.5 billion offering