Capital Markets transactions


We represented BBVA Securities, Citigroup Global Markets, Goldman Sachs, HSBC Securities (USA), J.P. Morgan Securities, Morgan Stanley, and Santander US Capital Markets, as underwriters, in the issuance and placement by América Móvil of MXN$17,000 million of its Senior Notes due 2031, under a Global Note Program in Mexico and the United States.

CLIENT:

BBVA, Citigroup, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and Santander

PRACTICE AREA:

Capital Markets

CLOSING DATE:

July 2023

VALUE:

MXN$17,000 million

OTHER FIRMS:

Simpson Thacher & Bartlett LLP, U.S. counsel to the Underwriters Bufete Robles Miaja, S.C., special Mexican counsel to the Company Cleary Gottlieb Steen & Hamilton LLP, special U.S. counsel to the Company


We represented Corporación Inmobiliaria Vesta, in its initial public offering of 14,375,000 American Depositary Shares (ADSs) in the New York Stock Exchange (NYSE), representing 143,750,000 shares of its common stock, at a price of USD$31.00 per ADS, raising gross proceeds of approximately USD$445 million. The offering was conducted through an underwriting group led by Citigroup, BofA Securities, and Barclays, acting as joint global coordinators, Morgan Stanley and Scotiabank, acting as joint placement agents, and UBS Investment Bank, acting as underwriter.

CLIENT:

Desarrolladora Vesta

PRACTICE AREA:

Capital Markets

CLOSING DATE:

July 2023

VALUE:

US$445.6 million


We represented BBVA Securities, Credit Agricole Securities, Goldman Sachs & Co., and J.P. Morgan Securities, in connection with the offering by BBVA México of US$1,000 million of its 8.450% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2038, issued under foreign legislation pursuant to an authorized program for an aggregate amount of up to US$10,000 million.

CLIENT:

BBVA México

PRACTICE AREA:

Capital Markets

CLOSING DATE:

June 2023

VALUE:

USD$1,000 million

OTHER FIRMS:

Cleary Gottlieb Steen & Hamilton LLP (counsel to the dealers). Simpson Thacher & Bartlett LLP (counsel to the Bank) Morgan, Lewis & Bockius LLP (special counsel to the Bank) Galicia Abogados (Mexican counsel to BBVA México)


We represented the Central American Bank for Economic Integration, in connection with the issuance of MXN$5,000 million Medium-Term Floating and Fixed Rate Notes issued under foreign legislation, pursuant to an authorized program for an aggregate amount of up to USD$10,000 million.

CLIENT:

Banco Centroamericano de Integración Económica (CABEI)

PRACTICE AREA:

Capital Markets

CLOSING DATE:

June 2023

VALUE:

MXN$5,000 million

OTHER FIRMS:

Paul Hastings - advised CABEI as to NY Law Matters


We represented Citibanamex Casa de Bolsa, Scotia Inverlat Casa de Bolsa and Casa de Bolsa BBVA Mexico, as Lead Mexican Underwriters, in connection with FIBRA Prologis’ offering of 117,049,735 additional Real Estate Trust Certificates (CBFIs), for a total amount of MXN$6,906 million, consisting of an offering of 41,320,946 CBFIs to the general public in Mexico and an international offering of 75,728,789 CBFIs outside of Mexico. The CBFIs trade on the Mexican Stock Exchange.

CLIENT:

Citibanamex Casa de Bolsa
Scotia Inverlat Casa de Bolsa
Casa de Bolsa BBVA Mexico

PRACTICE AREA:

Capital Markets

CLOSING DATE:

May 2023

VALUE:

MXN$6,906 million

OTHER FIRMS:

Jones Day LLP, Initial Purchaser's US Counsel Simpson, Thacher & Bartlett LLP, Issuer's US Counsel Creel, García-Cuéllar, Aíza y Enríquez, S.C., Issuer's Counsel


We represented Citigroup, HSBC Securities, Mizuho Securities and Morgan Stanley, as underwriters, in connection with the offering by the United Mexican States of USD$2,941 million of its 6.338% Global Notes due 2053.

CLIENT:

Citigroup Global Markets
HSBC Securities
Mizuho Securities
Morgan Stanley

PRACTICE AREA:

Capital Markets

CLOSING DATE:

April 2023

VALUE:

ND

PROFESSIONALS:

OTHER FIRMS:

Cleary Gottlieb- UMS counsel Sullivan & Cromwell - Banks counsel


We represented Mexico Infrastructure Partners (EXI), in the structuring of a new Fibra-E named Fibra Social (FSocial 23), as well as Fibra Social in the issuance of MXN $6,088 million CBFEs, placed in the Mexican Stock Exchange through an initial public offering and distribution to investors of EXI Funds.

CLIENT:

Mexico Infrastructure Partners F2

PRACTICE AREA:

Capital Markets

CLOSING DATE:

March 2023

VALUE:

MXN$6,088 million

OTHER FIRMS:

Creel, García-Cuéllar, Aiza y Enríquez, S.C. acted as external legal advisor to the placement agents: BBVA. Creel, García-Cuéllar, Aiza y Enríquez, S.C. acted as special Mexican tax counsel to Mexico Infrastructure Partners F2 and the Issuer. Greenberg Traurig, S.C. acted as external legal advisor of the concessionaires that were acquired by FSocial.


We represented Fomento Económico Mexicano (FEMSA), in connection with the partial divestment of its stake in Heineken in its offering of EUR€500 million of its 2.625% Senior Unsecured Exchangeable Bonds due 2026, exchangeable for up to 5,228,758 shares of Heineken.

CLIENT:

Fomento Económico Mexicano (FEMSA)

PRACTICE AREA:

Capital Markets

CLOSING DATE:

February 2023

VALUE:

EUR€500 million

OTHER FIRMS:

Cleary Gottlieb Steen & Hamilton LLP (London and NY offices) - counsel to FEMSA Linklaters LLP (London) - counsel to banks NautaDutilh (Amsterdam) - counsel to FEMSA Skadden Arps - counsel to Bank of America


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