BBVA Mexico supported the Ministry of Finance and Public Credit (SHCP) in the year’s first joint issuance of BONDESG and MS Bonds, for a total amount of MXN 35 billion

BBVA Mexico acted as sustainable structuring agent in the Ministry of Finance and Public Credit’s (SHCP) first joint issuance of the year of BONDESG and MS Bonds (fixed-rate bonds). The transaction underscores BBVA Mexico’s commitment to mobilizing capital to finance sustainable development in the country.

The issuance totaled MXN 35 billion, with demand reaching 2.35 times the amount offered (total demand of MXN 82.257 billion). The outcome highlights the growing investor appetite for this type of instrument and reflects the allocation of capital toward value creation across multiple dimensions: (i) financial returns and (ii) positive environmental and social impact.

With this joint issuance of BONDESG and MS Bonds, the SHCP strengthens the local yield curve, further positioning this initiative among the most relevant in the sustainable finance space. In addition, the introduction of linkages between BONDESG and MS Bonds contributes to deepening the MS Bonds segment, broadening investor participation and enhancing placement efficiency. These developments mark a strong start to the year, reinforcing the advancement of a more robust, liquid debt market aligned with ESG criteria.

According to Álvaro Vaqueiro Ussel, Head of Corporate & Investment Banking at BBVA Mexico, “this first BONDESG and MS Bonds transaction of the year ensures the continuity of government programs aligned with the SHCP’s Sovereign SDG-Linked Bond Framework, generating economic benefits across multiple dimensions for the country and reflecting the medium- and long-term commitment of fiscal policy with an environmental and social focus.”

BBVA Mexico’s active participation in this transaction further underscores its position as a key player in the development and consolidation of the sustainable-labelled bond market.

In terms of sustainable mobilization, BBVA Mexico channeled MXN 470.411 billion in 2025, representing a 45% increase compared to 2024, toward inclusive growth and climate change initiatives. The bank therefore welcomes this new SHCP issuance and reiterates its commitment to continuing to promote the development of the financial market, with a focus on ESG criteria.