By Christine Van Dusen
Atlanta, Sept. 25 - Mexico's BBVA Bancomer priced a $500 million add-on to its existing $1 billion issue of 6¾% subordinated tier II notes due Sept. 30, 2022 at 109.89 to yield 5.45%, a market source said.
The original issue priced at 99.97 to yield 6¾%.
Proceeds will be used to strengthen the company's capital structure and for general corporate purposes.
BBVA Bancomer is a Mexico City-based financial institution.
| Issuer: | BBVA Bancomer
|
| Amount: | $500 million
|
| Maturity: | Sept. 30, 2022
|
| Description: | Tier 2 notes
|
| Bookrunners: | BBVA Bancomer, Bank of America Merrill Lynch, Goldman Sachs
|
| Coupon: | 6¾%
|
| Price: | 109.89
|
| Yield: | 5.45%
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 30
|
| Ratings: | Moody's: A3
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
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