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Mexico’s BBVA Bancomer launches $1 billion 15-year tier 2 capital notes at Treasuries plus 265 bps
By Rebecca Melvin
New York, Jan. 11 – BBVA Bancomer SA launched on Thursday 15-year tier 2 subordinated capital notes (expected ratings: BB+/BBB-) to yield Treasuries plus 265 basis points, according to a market source.
Final terms were expected to be set late Thursday.
Pricing was coming at the tight end of earlier guidance for a yield in the Treasuries plus 270 bps area plus or minus 5 bps, which was revised downward from initial talk of Treasuries plus 300 bps.
BBVA Securities, BNP Paribas, BofA Merrill Lynch and JPMorgan are the bookrunners of the Rule 144A and Regulation S notes.
BBVA is a Mexico City-based financial institution.
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