News & Events

The Firm represented Banco Nacional de Comercio Exterior, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (“Bancomext”) in connection with its offering of US$1 billion 4.375% Notes due 2025. The transaction was consummated pursuant to Rule 144A and Regulation S. This was Bancomext’s first transaction in the international markets since 1994. As a quasi-sovereign entity, Bancomext included collective action clauses in its covenant package. 

Bancomext is a for-profit credit institution wholly owned by the Mexican government that operates as Mexico’s export-import development bank and seeks to contribute to economic development in Mexico by providing financing to Mexican entities involved in foreign trade. The proceeds from the offering will be used for general business purposes, including for asset and liability management purposes. 

The Simpson Thacher team included Todd Crider, Jaime Mercado, Kirsten Davis, Luis Pellerano, Carmina Rodríguez de la Rua, and Diego Kexel (Capital Markets); and David Holmberg (Tax).