News & Events

The Firm recently represented Banco Nacional de Comercio Exterior, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (“Bancomext”) in connection with its offering and sale of US$700 million aggregate principal amount of its 3.8% Subordinated Preferred Capital Notes due 2026. The transaction was consummated pursuant to Rule 144A and Regulation S.

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 offering was the first issuance of tier II subordinated notes by a development bank owned by the Mexican government. The proceeds from the offering will be used for general business purposes, including for asset and liability management purposes.

The Simpson Thacher team included Jaime Mercado, Kirsten L. Davis and Luis Pellerano (Capital Markets); and Jasmine Hay (Tax). International Associate Jose Frias and Summer Associate Valerie Comenencia Ortiz also provided valuable assistance.