Simpson Thacher recently represented BBVA México, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México (“BBVA México”), acting through its Texas Agency, in connection with the offering of US$1 billion of its 8.350% Fixed Reset Subordinated Preferred Tier 2 Capital Notes due 2042 (the “Notes”) under its US$10 billion Medium-Term Note Program. Barclays Capital Inc., BBVA Securities Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as the dealers for the offering of the Notes. The Notes were offered and sold in reliance on the exemptions from registration with the U.S. Securities and Exchange Commission provided by Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
BBVA México is the principal subsidiary of Grupo Financiero BBVA México, S.A., a holding company authorized to establish and operate as a subsidiary financial group of BBVA Spain. BBVA México is a leading multi-purpose bank organized under Mexican law and is present in all 32 Mexican states. As of December 31, 2025, BBVA México was the largest bank in Mexico based on assets, loans and deposits, according to data from the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores).
The Simpson Thacher team included Juan M. Naveira, Kirsten L. Davis, Jon Vicuña and María Belén Di Cola (Capital Markets - Latin America); and Jonathan Cantor, Michael Mann and Paul Jansch (Tax).