White & Case advises syndicate of banks on Banca Mifel’s tier 1 capital notes issuance

Global law firm White & Case LLP has advised BofA Securities, Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC, as initial purchasers, on the issuance by Banca Mifel, S.A., Institución de Banca Múltiple, Grupo Financiero Mifel (Banca Mifel), of US$300 million of 9.250% perpetual five-year callable subordinated non-preferred non-cumulative tier 1 capital notes.

Banca Mifel is a leading Mexican multiple services bank and one of the few remaining banks in Mexico that is not a subsidiary or branch of a non-Mexican financial institution. With a business model primarily focused on promoting economic development in Mexico, Banca Mifel serves large corporations, SMEs, and high-net-worth individuals and families, operating across 98 branches nationwide.

The notes were offered in the international markets in reliance on Rule 144A and Regulation S under the US Securities Act of 1933, and are expected to be listed on the Luxembourg Stock Exchange.  The proceeds will be used for general corporate purposes.

The White & Case team was led by partners John Vetterli (New York), Eduardo Flores Herrera and Narciso Campos Cuevas (both in Mexico City); and included counsels Henrikki Harsu (New York) and Jorge Escalante (Mexico City); and associates Alonso Arellano and Fernanda Ramírez Hurtado (both in Mexico City).

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