BBVA Bancomer in $1 Billion Tier 1 Offering

April 22, 2010

Cleary Gottlieb represented BBVA Bancomer in its Regulation S/Rule 144A offering of $1 billion 7.25% non-cumulative fixed rate subordinated non-preferred notes due 2020, which qualified as Tier 1 under Mexican banking regulations. Deutsche Bank Securities and Goldman Sachs acted as initial purchasers of the offering. The transaction closed on April 22.

BBVA Bancomer is Mexico’s largest bank in terms of total assets, deposits, loans and number of branches.