BBVA México’s $1 Billion Offering

Cleary Gottlieb represented BBVA, Credit Agricole, Goldman Sachs, and J.P. Morgan, as dealers, in a $1 billion offering by BBVA México of 8.45% fixed reset subordinated preferred Tier 2 capital notes due 2038.

The offering priced on June 22, 2023, and settled on June 29, 2023. The notes were offered for sale in the United States pursuant to Rule 144A and abroad pursuant to Regulation S.

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