BBVA México’s $1 Billion Offering

Cleary Gottlieb is representing BBVA, BofA Securities, Citi, and HSBC, as dealers, in a $1 billion offering by BBVA México of 5.4% senior notes due 2031.

The offering priced on May 27, 2026, and is expected to settle on June 3, 2026. The notes were offered for sale in the United States pursuant to Rule 144A and abroad pursuant to Regulation S, under BBVA Mexico’s medium term note program. The transaction marked the first time a Mexican financial institution priced inside the Mexican sovereign spread.

BBVA México is the largest financial institution in Mexico in terms of total assets, loans and deposits. It is the only Grade IV domestic systemically important bank in Mexico and one of the largest banks in Latin America.

The Cleary corporate team included partner Manuel Silva, associate Alejandro Martínez-Inzunza, and international lawyer Matias Chaves.