Davis Polk Advises Banco Santander México on Its $1.75 Billion Senior Notes Offering

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 offering of $1.75 billion aggregate principal amount of its 5.375% senior notes due 2025 at an issue price of 100%. The notes were offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933.

Banco Santander México is the second-largest bank in Mexico based on total assets, the third-largest bank in Mexico based on total loans and net income and the fourth-largest bank in Mexico based on deposits as of December 31, 2019. 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 partner Nicholas A. Kronfeld and associates Hillary A. Coleman and Ernesto Talamás Velázquez. Counsel Ethan R. Goldman provided tax advice. Associate Allison Gunther provided 1940 Act advice. Counsel Charles Shi provided executive compensation advice. All members of the Davis Polk team are based in the New York office.