Bancomext in $500 Million Notes Offering

Cleary Gottlieb represented Banco Nacional de Comercio Exterior, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (Bancomext) in its $500 million offering of 6% subordinated preferred capital notes due 2036.

The offering launched on May 5, 2026, priced on May 7, 2026, and is expected to close on May 14, 2026. The notes are expected to be listed on the Singapore Exchange Securities Trading Limited.

Barclays Capital Inc., BofA Securities Inc., J.P. Morgan Securities LLC, and Santander US Capital Markets LLC acted as global coordinators and joint bookrunners.

Bancomext is a government-owned, for profit national credit institution and development bank operating as Mexico’s international commerce development bank and providing financing mainly to the energy, industrial real estate, tourism, financial intermediaries, transportation, logistics, and aerospace sectors. Bancomext originates loans and issues loan guarantees, directly or through commercial banks and non-bank financial intermediaries, and holds the fifth-largest gross commercial loan portfolio in Mexico.

The Cleary corporate team included partners Manuel Silva and Jorge Juantorena, and associates Rodrigo López Lapeña and Alvin Herrera Gardea. Partner Matthew Brigham and associate Adam Girts advised on tax matters.