LatinFinance - November/December 2016 - 51

since 2014. Serani says government,
intermediaries and infrastructure players
must find a way to kick-start interest from
both investors and issuers..
"The market has slowed", and that's
generated sensitivity. Equity players, says
Serani, "just need a bit of confidence". LF

Bancomer was a bookrunner for Grupo
Hotelero Santa Fe's 1.83 billion peso ($94.8
million) equity follow-on offering, which
secured over half of its support from local
institutional accounts, Otero says.
In M&A, the Mexican bank advised
local energy infrastructure company
IEnova on its $852 million purchase of the
Ventika wind farm complex from private
equity firm Blackstone Energy Partners in
September. This marked the largest-ever
sale in the wind and renewables sector in
Mexico, Otero adds.
BBVA Bancomer also advised
government-owned Fondo de Empresas
Expropiadas del Sector Azucarero (FEESA)
on the $600 million sale of nine sugar mills.
In September, Beta San Miguel agreed to
buy the last two remaining FEESA-owned
mills for about $181 million, closing one of
Mexico's largest privatizations.
The bank again in September was part of
Mexico's largest local bond trade of 2016. It
was a bookrunner on bread maker Grupo
Bimbo's 8 billion peso 2026 bond sale,
alongside Bank of America-Merrill Lynch
and Santander. Otero says order books hit
nearly 20 billion pesos.
"This year has been tough for investment
banking," he says. "But we have a great
position and are close to our clients across
different sectors so as to advance any
opportunities we see in the markets." LF

INVESTMENT BANK OF THE YEAR
MEXICO

BBVA BANCOMER

Despite currency
volatility and uncertainty
over monetary policy and
US elections, this bank has
carved out some landmark
transactions
Whether it's low oil prices slowing
energy reforms or the depreciation of its
peso, it's no surprise deal flow in Mexico's
capital markets has decreased. Local
capital markets transactions slumped
55% in the first eight months this year,
compared to the same period in 2015,
according to Dealogic.
Still, Mexico remains one of Latin
America's most viable investment
destinations and the 2016 winner for
Best Investment Bank Mexico - BBVA
Bancomer - has proved that by concluding
important transactions across local and
international debt capital markets, equities
and mergers and acquisitions.
Advantageous windows in capital
markets have grown smaller, according to
Adrián Otero, BBVA Bancomer's head of
investment banking for Mexico. He says the
need for a strong pipeline of transactions
in a number of asset classes is crucial to
ensure that banks can capitalize when the
opportunity comes.
With support from its parent BBVA,
the Mexican outfit has grown to become
one of the Spanish bank's most vital
cogs. The bank remains close to Mexico's
institutional investor base, private banks
and international investors with an interest
in Mexico, Otero says.
"This gives us an advantage over
competitors since we can find the cheapest
and fastest way to do the fundraising for
any transaction we are executing," he says.
In equity capital markets, BBVA

ADRIAN OTERO, BBVA BANCOMER

"THIS YEAR HAS
BEEN TOUGH FOR
INVESTMENT
BANKING. BUT WE
HAVE A GREAT
POSITION AND ARE
CLOSE TO OUR
CLIENTS ACROSS
DIFFERENT SECTORS
SO AS TO ADVANCE
ANY OPPORTUNITIES
WE SEE IN THE
MARKETS"

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Extent and Nature of Circulation:

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Preceding Sept/Oct
12 months
2016

Total Total # of copies (press run)
Total Paid and/or Requested Circulation
Total Non-Requested Circulation
Total Distribution
Copies not Distributed
Return from News-Agent
Total
Percent Paid and/or Requested Circulation

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2,300
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42
0
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53%

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50
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7,068
47%

November/December 2016- L ATINFINA NCE.COM 51
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