Our Businesses in Mexico

Recent Transactions

Recent Debt Capital Market transactions include:

 

2010

Kimberly-Clark de Mexico – On November 9th, 2010, J.P. Morgan acted as joint bookrunner in Kimberly-Clark de Mexico’s MXN$4 billion peso bond placed in 5 and 10-year tranches.

Banorte – On July 14th, 2010, Banorte successfully returned to the international capital markets with a US$300 mm offering of 4.375% 5-year Senior Notes. Banorte is Mexico´s third largest bank by loans and deposits and the largest Mexican owned bank. J.P. Morgan acted as sole bookrunner.

Cemex – On May 10th, 2010, Cemex announced its successful execution of four separate exchange offers for its four tranches of outstanding perpetual debentures, for a total of US$3 billion. J.P. Morgan acted as sole dealer manager on all exchange offers.

América Móvil – On March 23rd, 2010, J.P. Morgan acted as joint bookrunner on América Móvil´s issuance of US$4 billion in the USD debt capital markets across 3 tranches. The company issued US$750 million 5-year bonds, US$2 billion 10-year bonds and US$1.25 billion 30 year bonds.

UMS – On March 4th, 2010, J.P. Morgan acted as joint lead manager and bookrunner in UMS’ US$1.0 billion reopening of its 5.125% USD notes due 2020.

UMS – On February 23rd, 2010, J.P. Morgan acted as joint lead manager in UMS’ new MXN$25 billion peso (US$2 billion) bond due 2020. This was the first ever debt syndicate d issuance of local UMS securities.

Cemex – On January 13th, 2010, Cemex successfully reopened its recently issued 9.50% bonds due 2016 for US$500 million. J.P. Morgan acted as joint bookrunner.

Posadas – On January 8th, 2010, Grupo Posadas, the largest Latin American operator of hotels, successfully issued US$200 million in the international capital markets with a new 9.250% (9.500% YTM) high yield bond due 2015. J.P. Morgan acted as sole bookrunner.

Kansas City Southern de México – On January 7th, 2010, Kansas City Southern de México, a subsidiary of Kansas City Southern, priced US$300mm of senior high yield notes due 2018. J.P. Morgan acted as joint bookrunner.

 

2009

Cemex – On December 9th, 2009, Cemex successfully issued a US$1.25 billion 7-year high yield bond in the international capital markets. J.P. Morgan acted as joint bookrunner.

Petrotemex – On December 3rd, 2009, Petrotemex, part of Mexico’s Alfa group, successfully reopened its 9.50% 2014 high yield bond for an additional US$75 million. J.P. Morgan acted as joint bookrunner.

UMS – On September 18th, 2009, J.P. Morgan acted as joint lead manager in UMS’US$1 billion re-opening of its USD 2019 notes and a simultaneous US$750 million reopening of its 2040 notes.

Petrotemex – On August 12th, 2009, Petrotemex, part of Mexico’s Alfa group, successfully debuted in the international capital markets with a US$200 million 5-year high yield bond. J.P. Morgan acted as joint bookrunner.

 

2008

Soriana – On September 11th, 2008, J.P. Morgan acted as joint bookrunner on a MXN$4.6 billion (approximately US$440 million), 2.3 year local bond offering for Organizacion Soriana.

Peñoles – On June 30th, 2008, J.P. Morgan acted as lead arranger on a US$530 million, three year bullet, Senior Unsecured Term Loan Facility for Industrias Peñoles, a mining group with integrated operations in smelting and refining of non-ferrous metals and the production of chemicals.

Soriana – On June 16th, 2008, J.P. Morgan acted as joint lead bookrunner on a MXN$5.5 billion (approximately US$530 million), 4.5 year local bond offering for Organizacion Soriana, the second largest food retail operator in Mexico.

Pemex – On May 28th, 2008, Pemex tapped the U.S. dollar markets, raising US$1.5 billion in a reopening of its 5.75% Notes due 2018. J.P. Morgan acted as joint bookrunner.

Megacable – On May 21st, 2008, J.P. Morgan acted as joint lead arranger and joint bookrunner on a US$260 million bank facility for Megacable, S.A. de C.V.

Televisa – On May 7th, 2008, Grupo Televisa, the world’s largest Spanish-speaking media company, successfully issued US$500 million of 6.00% Senior Notes due 2018. J.P. Morgan acted as a joint bookrunner.

Posadas – On April 10, 2008, J.P. Morgan acted as joint bookrunner on a MXN$1.5 bn (US$140 million) local high yield bond for Grupo Posadas.

 

2007

Aeromexico – Aerovías de México, S.A. de C.V. raised US$52 million through a privately placed credit card receivables securitization with J.P. Morgan acting as sole placement agent.

América Móvil – On October 30th, 2007, América Móvil, Latin America’s largest wireless operator by subscribers and market capitalization, issued MXN$2 billion (US$185 million) 3-year notes and MXN$2.5 billion (US$235 million) 10-year notes. J.P. Morgan acted as joint bookrunner on both tranches.

Cemex – On May 4th, 2007, Cemex issued a €730 million perpetual hybrid bond. J.P. Morgan acted as joint bookrunner.

Cemex – On February 7th, 2007, Cemex issued a US$750 million perpetual hybrid bond. J.P. Morgan acted as sole structuring advisor and joint bookrunner.

 
 

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