Simpson Thacher recently represented BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer (“BBVA Bancomer”), acting through its Texas Agency, in connection with the update of its US$10 billion Medium-Term Note Program and the offering of US$500 million of its 1.875% Senior Notes due 2025 thereunder. Banco Bilbao Vizcaya Argentaria, SA, BBVA Securities Inc., BNP Paribas, BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Nomura Securities International, Inc., SMBC Nikko Securities of America, Inc., Standard Chartered Bank, UBS Securities LLC and Wells Fargo Securities, LLC, among others, are the dealers under the program. BBVA Securities Inc., BNP Paribas Securities Corp., BofA Securities, Inc. and Morgan Stanley & Co. LLC acted as the dealers for the offering of the Senior Notes. The Senior Notes were offered and sold in reliance on the exemptions from registration with the U.S. Securities and Exchange Commission provided by Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
BBVA Bancomer is a subsidiary of Banco Bilbao Vizcaya Argentaria, S.A., a leading Spanish bank. BBVA Bancomer is a leading multi-purpose bank organized under Mexican law and is present in all 32 Mexican states. As of December 31, 2019, based on total assets, loans and deposits, BBVA Bancomer 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 for the offering included Jaime Mercado, Kirsten L. Davis and Marel Ruiz (Capital Markets); and Jonathan Cantor and Edward Grais (Tax).