Banco Santander México $900 million subordinated preferred capital securities
We advised Banco Santander México on its private placement of Tier 2 capital notes
Davis Polk advised Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, a sociedad anónima organized under the laws of Mexico, in connection with its private placement of $900 million aggregate principal amount of 6.921% Tier 2 subordinated preferred capital notes.
Banco Santander México is the second-largest bank in Mexico based on total assets and the third-largest bank in Mexico based on total loans, deposits and net profit as of November 30, 2023. Banco Santander México provides a wide range of financial and related services, principally in Mexico, including retail and commercial banking and securities underwriting. Banco Santander México is part of the Santander Group, one of the largest financial groups in the world in terms of market capitalization.
The Davis Polk corporate team included partners Pedro J. Bermeo and Hillary A. Coleman and associates Javier Félix and José Miguel Fernández. All members of the Davis Polk team are based in the New York office.