Banco Santander (México)’s $1.3 Billion Tier 2 Subordinated Preferred Capital Notes Offering

Davis Polk advised Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (“Banco Santander (México)”), a sociedad anónima organized under the laws of Mexico, in connection with its offering of $1.3 billion aggregate principal amount of 5.950% Tier 2 subordinated preferred capital notes due 2028 at an issue price of 100.000%.

The notes were offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933. The notes are intended to qualify as Tier 2 capital for Mexican regulatory purposes. Banco Santander (México) is the second-largest bank in Mexico based on total assets and the third-largest bank in Mexico based on total loans, deposits and net income as of June 30, 2018.

Davis Polk advised Banco Santander Mexico with a team including Nicholas A. Kronfeld (Picture), Hillary A. Coleman, Pedro J. Bermeo, Grecia Barboza (Capital Markets) Rachel D. Kleinberg and Christina L. Tacoronti (Tax) and Sijia Cai (1940 Act advice).


Involved fees earner: Nicholas Kronfeld – Davis Polk & Wardwell; Hillary Coleman – Davis Polk & Wardwell; Pedro Bermeo – Davis Polk & Wardwell; Grecia Barboza – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Christina Tacoronti – Davis Polk & Wardwell; Sijia Cai – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Banco Santander Mexico SA;


Author: Ambrogio Visconti