Nachrichten July 30, 2021

Bancomext’s $500 Million Offering of Subordinated Preferred Capital Notes Issued Under its Sustainability Bond Framework

Shearman & Sterling represented Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC as initial purchasers in connection with the issuance of $500 million aggregate principal amount of 2.720% Subordinated Preferred Capital Notes due 2031 under Rule 144A/Regulation S by Banco Nacional de Comercio Exterior, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo’s, acting through its Cayman Islands Branch, Bancomext, a development bank owned by the Mexican government.

Bancomext intends to use the proceeds from the sale of the notes into projects eligible under the “Green Bond Project Categories” or “Social Bond Project Categories” of its Sustainability Bond Framework.

The Shearman & Sterling team below included visiting attorney Pedro de Elizalde.