BBVA Mexico participates in Grupo Carso’s MXN 4.5 billion bond issuance
BBVA Mexico participated as bookrunner in Grupo Carso’s bond issuance (Certificados Bursátiles) for an amount of MXN 4.5 billion, identified under ticker symbol GCARSO 26, a transaction that contributes to strengthening the financial strategy of one of Mexico’s most significant business conglomerates.
The issuance received a national long-term rating of ‘AAA (mex)’ from Fitch Ratings, the highest rating on the national scale, supported by Grupo Carso’s diversified business portfolio, its competitive position across various strategic sectors of the economy and its consistently strong credit profile. In turn, HR Ratings assigned an HR AAA rating with a Stable Outlook.
"reaffirms BBVA Mexico’s ability to support leading companies"
“This transaction reflects Grupo Carso’s leadership in strategic sectors for Mexico’s economic development and reaffirms BBVA Mexico’s ability to support leading companies with financial solutions that contribute to strengthening their long-term growth plans,” said Álvaro Vaqueiro Ussel, Head of Corporate and Investment Banking at BBVA Mexico.
The floating-rate issuance has a remaining term of three years and was priced at a spread of 38 basis points over the Funding TIIE. The proceeds from the issuance will be used for liability refinancing and general corporate purposes, enabling the company to maintain a solid financial structure and continue supporting the development of its various business lines.
This transaction further strengthens BBVA Mexico’s position as one of the financial institutions with the greatest experience in the structuring, distribution and execution of relevant transactions in the Mexican financial market.