Banco Mercantil del Norte (Banorte), 6.875% perp., USD (USP14008AD19)

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International bonds, Perpetual, Variable rate, Trace-eligible, Junior Subordinated Unsecured

Status

Early redeemed

Amount

350,000,000 USD

Placement

***

Early redemption

*** (-)

ACI on

Country of risk

Mexico

Current coupon

Price

Yield / Duration

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Placement amount

350,000,000 USD
Minimum Settlement Amount

200,000 USD
ISIN RegS

USP14008AD19
CFI RegS

DBFUPR
FIGI RegS

BBG00H1TMFM5
SEDOL

BF2BL57
Ticker

BANORT V6.875 PERP REGS

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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

350,000,000 USD

Face value

Minimum Settlement Amount

200,000 USD
Outstanding face value

*** USD
Increment

*** USD
Face value

1,000 USD

Listing

Listing

***

Cash flow parameters

Variable rate type

Fix to Float

Reference rate

5Y UST Yield

Coupon Rate

***

Day count convention

***

Interest Accrual Date

***
Coupon frequency

*** time(s) per year
Payment currency

***
Early redemption date

***

Cash flow

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

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Early redemption terms

***

explore the most comprehensive database

900 000

bonds globally

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pricing sources

80 000

stocks

116 000

ETF & Funds

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Why

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Placement

Placement method

Open subscription
Placement type

Public
Placement

***
Initial issue price (yield)
Geographic breakdown

***
Investor breakdown

***

Participants

Bookrunner

***, ***
Depository

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

***
Arranger Legal Adviser (International law)

***
Issuer Legal Adviser (Domestic law)

***
Issuer Legal Adviser (International law)

***
Paying agent

***
Trustee

***

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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Similar issues

News

15/11/2024	New issue: Banco Mercantil del Norte (Banorte) issued international bonds (USP1400MAE86) in the amount of USD 750 mln
14/11/2024	New issue: Banco Mercantil del Norte (Banorte) issued international bonds (USP1400MAD04) in the amount of USD 750 mln
10/07/2020	New bond issue: Banco Mercantil del Norte (Banorte) issued international bonds (USP1400MAC21) for USD 500.0m
16/02/2020	New bond issue: Banco Mercantil del Norte (Banorte) issued international bonds (CH0520663664) with a 0.5% coupon for CHF 225.0m maturing in 2024
21/08/2019	New bond issue: Banco Mercantil del Norte (Banorte) issued international bonds (CH0494734343) with a 0.45% coupon for CHF 160.0m maturing in 2023

All organization news

Identifiers

ISIN RegS

***
Cbonds ID

326005
ISIN 144A

***
CUSIP RegS

***
CUSIP 144A

***
CFI RegS

DBFUPR
CFI 144A

DBFUPR
FIGI RegS

BBG00H1TMFM5
FIGI 144A

BBG00H1TNDY6
WKN RegS

A19K4N
WKN 144A

A19K4P
SEDOL

BF2BL57
Ticker

BANORT V6.875 PERP REGS
Type of security by CBR

***

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Bond classification

Registered
Junior Subordinated Unsecured
Coupon bonds
Variable rate
Perpetual
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)
Payment-in-kind
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Commercial Bonds
Sukuk

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Restructuring

***