Banco Mercantil del Norte (Banorte), 5.75% 4oct2031, USD (FIGI RegS BBG00DY3L673, WKN A187BH)

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International bonds, Variable rate, Trace-eligible, Senior Subordinated Unsecured

Issue | Borrower

Borrower

M

*** | ***

***
S&P

*** | ***

***
F

*** | ***

***

Status

Outstanding

Amount

87,739,000 USD

Placement

***

Redemption (put/call option)

*** (-)

ACI

Country of risk

Mexico

Current coupon

***%

Price

Yield / Duration

Placement amount

500,000,000 USD
Outstanding amount

87,739,000 USD
USD equivalent

87,739,000 USD
Minimum Settlement Amount

200,000 USD
CFI RegS

DBFUGR
FIGI RegS

BBG00DY3L673
SEDOL

BDGL5Y6
Ticker

BANORT V5.75 10/04/31 REGS

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Prospectus

Prospectus

Corporate Action Notices (2 pcs.)

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Issue information

Profile

Banorte is a major bank in Mexico, based in Monterrey. Banorte is ranked in the 84th place out of 100 in the 2007 Great Place to Work List for Mexico. Banorte is the primary subsidiary of ...

Banorte is a major bank in Mexico, based in Monterrey. Banorte is ranked in the 84th place out of 100 in the 2007 Great Place to Work List for Mexico. Banorte is the primary subsidiary of Grupo Financiero Banorte, one of Mexico's largest and oldest financial institutions, which has been present in Mexico since 1899. The Banorte trademark is a well-known mark in Mexico. The web domain name "banorte.com" was created on October 13, 1998. It is a Forbes Global 2000 company, with more than 30 billion dollars in assets under management, 12,500 employees, and 950 branches. Currently, it is the only major bank in Mexico not owned by any foreign group. Banorte, with total consolidated assets of approximately $15.1 billion, is the fifth largest bank in Mexico.It was established in 1889 as Banco Mercantil de Monterrey and in 1985 merged with Banco Regional del Norte to form Banco Mercantil del Norte ('Banorte). In late 2001, Banorte acquired Bancrecer in US$125 millions. Bancrecer had been taken over in 1999 by IPAB. Bancrecer had itself taken over another bank, Banoro, in 1997.

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Borrower

Go to the issuer page
Banco Mercantil del Norte (Banorte)
Full borrower / issuer name

Banco Mercantil del Norte (Banorte)
Sector

Corporate
Industry

Banks

Volume

Placement amount

500,000,000 USD
Outstanding amount

87,739,000 USD
Outstanding face value amount

87,739,000 USD

Face value

Minimum Settlement Amount

200,000 USD
Outstanding face value

*** USD
Increment

*** USD
Face value

1,000 USD

Listing

Listing

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Cash flow parameters

Variable rate type

Fix to Float

Reference rate

5Y UST Yield

Coupon Rate

***

Day count convention

***

Business Day Convention

Following Business Day

Interest Accrual Date

***
Coupon frequency

*** time(s) per year
Payment currency

***
Maturity date

***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

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Early redemption terms

***

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Placement

Placement method

Open subscription
Placement type

Public
Placement

***
Initial issue price (yield)

(***%)
Geographic breakdown

***
Investor breakdown

***
Use of proceeds

General Banking Purposes
Basel III Tier 2 Capital (T2)
Use of proceeds description

General Corporate Purposes, Basel III Tier 2 Capital (T2)

Participants

Bookrunner

***, ***, ***
Arranger Legal Adviser (Domestic law)

***
Arranger Legal Adviser (International law)

***
Issuer Legal Adviser (Domestic law)

***
Issuer Legal Adviser (International law)

***
Issuer Legal Adviser (Listing law)

***
Paying agent

***

Conversion and exchange

Conversion terms

***

Covenants

Change of Control
***
Collective Action Clause
***
Covenant Suspension/Fall-Away
***
Cross Default
***
Designation of Restricted and Unrestricted Subsidiaries
***
Events of Default
***
Financial Covenants
***
Limitation on Business Activities
***
Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
***
Limitation on Indebtedness
***
Limitation on Investments
***
Limitation on Liens
***
Limitation on Restricted Payments
***
Limitation on Sale of Assets
***
Limitation on Sale/Leaseback
***
Limitation on Subsidiary Debt
***
Limitation on layering (anti-layering)
***
Limitations on transactions with affiliates
***
Merger Restrictions
***
Rating Trigger
***

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Latest issues

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News

All organization news

Identifiers

ISIN RegS

***
Cbonds ID

254931
ISIN 144A

***
CUSIP RegS

***
CUSIP 144A

***
CFI RegS

DBFUGR
CFI 144A

DBFUGR
FIGI RegS

BBG00DY3L673
FIGI 144A

BBG00DY3L682
WKN RegS

A187BH
WKN 144A

A187BJ
SEDOL

BDGL5Y6
Ticker

BANORT V5.75 10/04/31 REGS
Type of security by CBR

***

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Ratings

Bond classification

Senior Subordinated Unsecured
Registered
Coupon bonds
Variable rate
Subordinated
Trace-eligible
Amortization
Callable
CDO
Convertible
Dual currency bonds
For qualified investors (CIS region)
Foreign bonds
Green bonds
Guaranteed
Inflation-linked principal
Supranational bond issues
Inflation-linked coupon
Mortgage bonds
Non-complex financial instruments (MiFID)
Perpetual
Payment-in-kind
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Commercial Bonds
Sukuk

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Restructuring

***