BBVA supported Bladex in the execution of its 17th debt issuance in the local market for MXN 4.265 billion
BBVA supported Bladex in its latest local market debt issuance. Since 2012, the bank has placed more than MXN 49 billion across 17 long-term issuances in Mexico, thereby consolidating its position as a recognised and repeat issuer in the market.
The transaction consisted of a single tranche of MXN 4.265 billion with a three-year tenor, priced at a floating rate of TIIE Fondeo + 60 basis points, at the lower end of the Initial Price Thoughts (IPT), reflecting the strength of the credit and robust market appetite for the issuer’s debt. The transaction was well received by local investors, with total demand reaching MXN 4.532 billion, equivalent to 1.81x the target amount (MXN 2.5 billion). Participation came from a broad institutional investor base, including pension funds (Afores), mutual funds, insurance companies, broker-dealers, independent advisers and private banking divisions.
"We thank Bladex for allowing us to support its efforts to promote foreign trade in Latin America"
Álvaro Vaqueiro, Head of Corporate & Investment Banking at BBVA México, commented: “We thank Bladex for allowing us to support its efforts to promote foreign trade in Latin America and to take part in the execution of its funding strategy and broader development plan towards 2030. This issuance highlights the institution’s credit strength and reinforces its position in the Mexican debt market.”
With a track record of more than 45 years, Bladex has built a strong franchise. Its success is underpinned by a deep understanding of opportunities and risks in Latin America, as well as its strong regional presence.
Recently, the company unveiled its 2030 strategy, which is based on three pillars: disciplined growth, reduction in funding costs and a greater contribution from non-financial income. By 2030, Bladex expects to reach a commercial portfolio of between USD 18 billion and USD 20 billion, a net interest margin of around 2.30%, and non-financial income of approximately USD 125 million.