BBVA México’s $900 Million Offering

Cleary Gottlieb represented BBVA, Goldman Sachs, HSBC, and Morgan Stanley, as dealers, in a $900 million offering by BBVA México of 8.125% fixed reset subordinated preferred tier 2 capital notes due 2039.

The offering priced on January 3, 2024, and is expected to settle on January 8, 2024. 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.