Deals of the Year 2012: Santander Mexico
|Bookrunners||Santander, Bank of America Merrill Lynch, Deutsche Bank and UBS were the global coordinators. Barclays, Citi, Credit Suisse, Goldman Sachs, Itaú, JPMorgan and RBC were joint bookrunners|
|return to the Latin America Deals of the Year index|
One of the big equity themes in Latin America in 2012 was that issuance from companies outside Brazil, and from Mexico in particular, enjoyed a strong year. Santander Mexico’s $4.1 billion IPO is one of the deals of the year because of its size and its secondary markets performance. In a domestic market dominated by foreign banks, Santander’s local listing is an important development for the bank and the market. It was the third-largest IPO in the world in 2012 and the second-largest-ever SEC-registered IPO by a Latin American issuer (behind Santander Brazil’s 2009 IPO). It also performed very well in the secondary markets. Contrasting with the two larger IPOs in 2012 – those of Facebook and Japan Airlines – the deal was trading up after five days and is still above the launch price (by 13%) at the time of going to press.