Capital Markets transactions


Represented J.P. Morgan, Morgan Stanley, BofA Securities, Scotiabank, and UBS, in connection whit the initial public offering of 33,660,589 Class A common shares by BBB Foods, in the New York Stock Exchange (NYSE), at a price of USD$17.50 per share, raising gross proceeds of approximately USD$589 million. 

CLIENT:

JP Morgan
Morgan Stanley
Scotiabank
Bank of America

PRACTICE AREA:

Capital Markets

CLOSING DATE:

February 2024

VALUE:

USD$589 million

OTHER FIRMS:

Simpson Thacher (US Counsel to the Company) Cleary Gottlieb (US Counsel to Underwriters) Greenberg Traurig (Mexico Counsel to Company) Conyers Dill & Pearman (BVI Counsel to the Company)


We represented BBVA, Citi, Deutsche Bank, HSBC and Natixis, as underwriters, in connection with the offering by the United Mexican States of its €2,000 million 4.4899% Global Notes due 2032.

CLIENT:

BBVA
Citi
Deutsche Bank
HSBC
Natixis

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2024

VALUE:

€2.0 Billion

OTHER FIRMS:

Cleary Gottlieb (Mexico's US Counsel) Sullivan & Cromwell (US Counsel to the Underwriters)


We represented BofA Securities, Citigroup, J.P. Morgan, Mizuho, MUFG and Rabo Securities, in connection with the offering by Bimbo Bakeries USA of  its (i)  SD$450 million 6.050% Senior Notes due 2029 and (ii) USD$800 million 5.375% Senior Notes due 2036.

CLIENT:

BofA Securities
Citigroup
J.P. Morgan
Mizuho
MUFG
Rabo Securities

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2024

VALUE:

USD$1.25 billion

OTHER FIRMS:

Skadden (US Counsel to Bimbo) Cleary Gottlieb (US Counsel to Initial Purchasers) Galicia Abogados (Mexican Counsel to Bimbo)


We represented Barclays, BofA, J.P. Morgan, Morgan Stanley and Santander, as underwriters, in connection with the offering by the United Mexican States of its (i) USD$1,000 million 5.000% Global Notes due 2029, (ii) USD$4,000 million 6.000% Global Notes due 2036 and (iii) USD$2,500 million of its 6.400% Global Notes due 2054.

CLIENT:

Barclays
BofA Securities
J.P. Morgan Securities
Morgan Stanley
Santander

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2024

VALUE:

USD$7.5 billion

OTHER FIRMS:

Sullivan & Cromwell (Counsel to the Underwriters) Cleary Gottlieb (Counsel to the United Mexican States)


We represented BBVA Securities, Goldman Sachs, HSBC Securities (USA), and Morgan Stanley,  in connection with the offering by BBVA México of its US$900 million 8.125% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2039, issued under foreign legislation pursuant to an authorized program for an aggregate amount of up to US$10,000 million.

CLIENT:

BBVA Securities
Goldman Sachs.
HSBC Securities (USA)
Morgan Stanley

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2024

VALUE:

USD$900 million

OTHER FIRMS:

Simpson Thacher (US Counsel to BBVA) Cleary Gottlieb (US Counsel to Underwriters) Galicia Abogados (Mexican Counsel to BBVA)


We represented Corporación Inmobiliaria Vesta, in an underwritten public offering of 4,250,000 American Depositary Shares (ADSs), representing 42,500,000 of its common shares, for an amount of USD$148.7 million.

CLIENT:

Corporación Inmobiliaria Vesta

PRACTICE AREA:

Capital Markets

CLOSING DATE:

December 2023

VALUE:

USD$148.7 million

OTHER FIRMS:

Barclays - Investment Banking Coverage Bank of America - Investment Banking Citi Morgan Stanley Davis Polk - Corporate Law New York Simpson Thacher - Corporate Law New York Creel, García-Cuéllar, Aiza y Enriquez - Corporate Law Mexico


We represented Fondo Nacional de Infraestructura (FONADIN), in the issuance of debt bonds (certificados bursátiles fiduciarios) guaranteed by the Mexican federal government, pursuant to a structure of interconnected vessels identified as "FONADIN 23U", "FONADIN 23-2U" and "FONADIN 22-U", for a total amount of 1,361,776,500 UDIs (Investment Units), equivalent to MXN$10,777 million. The intermediaries and placement agents involved in this process include Casa de Bolsa BBVA México, HSBC Casa de Bolsa, Intercam Casa de Bolsa, and Scotiabank Inverlat Casa de Bolsa.

CLIENT:

Fondo Nacional de Infraestructura (FONADIN)

PRACTICE AREA:

Capital Markets

CLOSING DATE:

November 2023

VALUE:

MXN$10,777 million


We represented BBVA, BofA Securities, Citigroup, Morgan Stanley and Rabo Securities, in connection with (i) the offering by Bimbo Bakeries USA of USD$450 million of its 6.050% Senior Notes due 2029 and USD$550 at a rate of 6.400% due 2034, and (ii) Grupo Bimbo's cash tender offer for any and all of its outstanding 3.875% Senior Notes due 2024.

CLIENT:

BBVA Securities, Inc.
BofA Securities, Inc.
Citigroup Global Markets Inc,
Morgan Stanley & Co. LLC
Rabo Securities USA, Inc.

PRACTICE AREA:

Capital Markets

CLOSING DATE:

November 2023

VALUE:

USD$1,000 million

OTHER FIRMS:

Cleary Gottlieb Steen & Hamilton - U.S. counsel to purchasers. Skadden, Arps, Slate, Meagher & Flom - U.S. counsel to issuer. Galicia Abogados - Mexican counsel to issuer.


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