Mexico City, 15 April 2020.- Banco Santander Mexico successfully tapped the global market with a $1.75 billion issue of 5-year 5.375% bonds. The issue was three times oversubscribed, which shows global investors' continued trust in the bank despite the situation caused by Covid-19. This was the highest ever bond issue in international markets by a bank in Mexico.
With this placement, Santander Mexico becomes the first private company in Mexico to issue bonds in the past month and a half during the current global market uncertainty.
Banco Santander Mexico's senior executive vice president and CEO Héctor Grisi Checa said "The response was overwhelming and better than we had expected, with more than 300 international investors from markets such as the United States, Europe, Asia and Latin America subscribing to the issue. The confidence shown by the investment community makes us proud and is a show of our financial soundness, skilled management in challenging circumstances like the present, transparency and the strength of our business model."
The funds raised will help Santander Mexico bolster its customer-centric strategy in which the development of digital banking is crucial.
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ABOUT BANCO SANTANDER MEXICO (NYSE: BSMX BMV: BSMX)
Banco Santander Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero Santander Mexico (Banco Santander Mexico) is one of the largest banks in Mexico. It offers a wide range of financial services and products, including retail and commercial banking and banking for individuals, financial advisory services and other investment activities. Banco Santander Mexico provides a financial services platform for the middle and upper segments of the population and small and medium-sized enterprises. It also provides end-to-end financial services for major multinational companies in Mexico. At 31 December 2019, Banco Santander Mexico had total assets amounting to 1,411,000 million pesos and had more than 18.1 million customers. With headquarters in Mexico City, the company operates 1,402 branches around the country and has 19,975 employees.