Banco Mercantil del Norte offers to buy 5¾% subordinated notes

Chicago, May 9 – Banco Mercantil del Norte SA Institucion de Banca Multiple Grupo Financiero Banorte (Cayman Islands Branch) is offering to purchase any and all of its $294,219,000 outstanding 5¾% subordinated preferred capital notes due 2031, according to an announcement.

The bank is offering par plus interest to the settlement date.

The offer expires at 5 p.m. ET on May 13.

The guaranteed delivery date is the second business day after the expiration time.

Settlement is planned three business days after the expiration time.

Settlement for notes tendered via guaranteed delivery is expected one business day after the guaranteed delivery expiration time.

Goldman Sachs & Co. LLC is the dealer manager (212 357-1452, 800 828-3182).

D.F. King & Co., Inc. is the tender agent and information agent (212 269-5550, 800 706-3274, banorte@dfking.com).

The bank will use cash on hand to fund the tender offer.

Banco Mercantil is the largest bank in Mexico in terms of total assets, deposits and stockholders’ equity that is not controlled by or affiliated with a non-Mexican financial institution.

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