Banorte Details FO

Banorte Details FO

Mexico Equity

Grupo Financiero Banorte has laid out additional details for its $3bn equity follow-on, picking Citi, JPMorgan and Morgan Stanley to manage international and domestic portions, joined by BTG Pactual, Itau, Goldman Sachs, Merrill Lynch, and Mitsubishi UFJ on the international and Banorte-Ixe on the domestic. The exact timing and number of primary shares to be sold remain to be determined, though a July pricing is expected. It plans to use the proceeds to pay back a loan, fund its acquisition of s

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