Banco del Bajío S.A.’s $500 Million Initial Public Offering


Jones Day, Paul Hastings, Cleary Gottlieb Steen & Hamilton and Ritch, Mueller, Heather y Nicolau have advised on the transaction

Banco del Bajío completed its approximately $500 million initial public offering of common stock. Banco del Bajío is one of Mexico’s largest commercial banks, with a business model focused on providing credit facilities to corporate clients. Paul Hastings also represented Temasek Holdings, acting through its investment vehicle Ion Investments, B.V., as selling shareholder in the offering.

The IPO was sold internationally pursuant to Rule 144A and Regulation S and the shares were listed on the Mexican Stock Exchange. The proceeds received by Banco del Bajío will be used for general corporate purposes, including improving its capitalization ratio, growing its loan portfolio and to prepay certain liabilities.

Citigroup, Morgan Stanley, UBS and BTG acted as Initial Purchasers.

Paul Hastings has advised Banco del Bajío and Selling Shareholder Temasek Holdings with Michael L. Fitzgerald (Picture), Arturo Carrillo, Pedro Reyes, Stephanie Monroe Rohlfs and Laura Berazaluce.

In Mexico, Jones Day has advised Banco del Bajío with Fernando de Ovando and Carlos Sámano.

Cleary Gottlieb Steen & Hamilton advised the Initial Purchasers with Jorge Juantorena, Alejandra Melgoza Morales and Isa Julson.

In Mexico, Ritch, Mueller, Heather y Nicolau advised the Initial Purchasers with Luis A. Nicolau, José Berrueta and Tomás Bayo.

Involved fees earner: Luis Nicolau Gutiérrez – Ritch, Mueller, Heather y Nicolau, SC; José Berrueta Ochoa – Ritch, Mueller, Heather y Nicolau, SC; Tomas Antonio Bayo Canalizo – Ritch, Mueller, Heather y Nicolau, SC; Fernando de Ovando – Jones Day; Carlos Alberto Sámano Cruz – Jones Day; Michael Fitzgerald – Paul Hastings; Arturo Carrillo – Paul Hastings; Pedro Reyes – Paul Hastings; Stephanie Rohlfs – Paul Hastings; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Alejandra Melgoza Morales – Cleary Gottlieb Steen & Hamilton;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC; Jones Day; Paul Hastings; Cleary Gottlieb Steen & Hamilton;

Clients: BTG Pactual; Citigroup Inc.; Morgan Stanley; Temasek; UBS; Banco del Bajío S.A.;

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Author: Ambrogio Visconti.