Mexican Bank Raises $500 Million in IPO

On June 12th the Mexican bank Banco del Bajio completed an initial public offering (IPO) of common stocks, which were sold internationally on the Mexican Stock Exchange. The total value raised is  approximately $500 million.

The money gathered will be used for general corporate purposes, including improving the bank’s capitalization ratio, growing its loan portfolio and prepay liabilities.  Citigroup, Morgan Stanley, UBS and BTG were the initial purchasers. They were advised by the law firm Cleary Gottlieb Steen & Hamilton.

The law firms Jones Day, Paul Hastings, Cleary Gottlieb Steen & Hamilton and Ritch, Mueller, Heather y Nicolau provided advice to the bank for the transaction.

C.S.