Simpson Thacher Represents BBVA México in Connection With Offering of $900 Million Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2039 under its $10 Billion Medium-Term Note Program
01.09.24
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Simpson Thacher recently represented BBVA México, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México (“BBVA Mexico”), acting through its Texas Agency, in connection with the offering of US$900 million of its 8.125% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2039 under its $10 billion Medium-Term Note Program. BBVA Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC acted as the dealers for the offering of the Notes. The Notes were offered and sold in reliance on the exemptions from registration with the Securities and Exchange Commission provided by Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
BBVA Mexico is the principal subsidiary of Grupo Financiero BBVA México, S.A., a holding company authorized to establish and operate as a subsidiary financial group of BBVA Spain. BBVA Mexico is a leading multi-purpose bank organized under Mexican law and is present in all 32 Mexican states. As of December 31, 2022, based on assets, loans and deposits, BBVA Mexico was the largest bank in Mexico according to data from the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores).
The Simpson Thacher team included Juan M. Naveira, Kirsten L. Davis and Hernan Alal (Latin America - Capital Markets); and Jonathan Cantor and Edward Grais (Tax).