Banorte Targets July 16 Pricing

Banorte Targets July 16 Pricing

Grupo Financiero Banorte plans to price its follow on equity offering on July 16, it says, having marketed the all-primary RegS/144A transaction last week. It plans to raise around $2bn, not including any greenshoe option, it says in a roadshow presentation. GFNorte will use the proceeds to pay back a loan, buy out the IFC’s remaining shareholding, and fund its purchase of insurance and pension stakes from Italy’s Grupo Generali. Banorte’s core capital equated to 11.79% of its risk weighted asse

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial