Nachrichten January 17, 2018

BBVA Bancomer’s $1B Notes Offering

Shearman & Sterling represented BBVA Securities Inc., BNP Paribas Securities Corp., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as initial purchasers in connection with the Rule 144A/Regulation S offering of $1 billion aggregate principal amount of 5.125% subordinated preferred capital notes due 2033 by BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, acting through its Texas Agency (“BBVA Bancomer”). The notes qualify as Tier 2 capital and are subject to write-down or suspension in the event BBVA Bancomer’s capitalization levels fall below certain thresholds.

A subsidiary of leading Spanish bank Banco Bilbao Vizcaya Argentaria, S.A., BBVA Bancomer is Mexico’s largest bank based on total assets, loans and deposits.

The Shearman & Sterling team below was supported by visiting attorney Marcela Gomez Morin Cuevas (New York-Capital Markets) and associate Jake Glazeski (New York-Compensation, Governance & ERISA).

The Team