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Capital Markets transactions


We represented BBVA Securities, BofA Securities, Credit Agricole and J.P. Morgan, in connection with the offering by BBVA México of its USD$1 billion, 7.625% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2035, issued under foreign legislation.

CLIENT:

BBVA Securities
BofA Securities
Credit Agricole
J.P. Morgan

PRACTICE AREA:

Capital Markets

CLOSING DATE:

February 2025

VALUE:

USD$1 Billion

OTHER FIRMS:

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

Abajo Arriba

We represented J.P. Morgan, Morgan Stanley, BTG Pactual, Santander, and Scotiabank, in connection with the follow-on public offering of 21,000,000 Class A common shares by BBB Foods in the New York Stock Exchange (NYSE), at a price of USD$28.25 per share, raising gross proceeds of approximately USD$593.3 million.

CLIENT:

JP Morgan
Morgan Stanley
Scotiabank
BTG Pactual
Santander

PRACTICE AREA:

Capital Markets

CLOSING DATE:

February 2025

VALUE:

USD$593,250,000

OTHER FIRMS:

Simpson Thacher (US Counsel to Company) Cleary Gottlieb (US Counsel to Banks) Greenberg Traurig (Mexican Counsel to Company)

Abajo Arriba

We represented BNP PARIBAS, Crédit Agricole, Deutsche Bank, HSBC and Société Générale, as underwriters, in connection with the offering by the United Mexican States of its €1,400 million 4.625% Global Notes due 2033 and of its €1,000 million 5.125% Global Notes due 2037.

CLIENT:

BNP PARIBAS
Crédit Agricole
Deutsche Bank
HSBC
Societé Générale

PRACTICE AREA:

Capital Markets

CLOSING DATE:

February 2025

VALUE:

€2.4 Billion

OTHER FIRMS:

Sullivan & Cromwell (US Counsel to Banks) Cleary Gottlieb (US Counsel to UMS)

Abajo Arriba

We represented GCC, 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.

CLIENT:

GCC

PRACTICE AREA:

Capital Markets

CLOSING DATE:

January 2025

VALUE:

MXN$20 billion

Abajo Arriba

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

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