BBVA Mexico acted as joint placement agent for the Ministry of Finance and Public Credit (SHCP) in the year’s second joint issuance of BONDESG and Bonos MS fixed-rate bonds.
The transaction totalled MXN35 billion and drew demand of MXN91.664 billion, representing an oversubscription of 2.62x. The strong appetite for the offering reflects growing investor interest in instruments that combine financial performance with the financing of projects delivering positive environmental and social outcomes.
Each new transaction helps strengthen local benchmark yield curves
The joint issuance of BONDESG and Bonos MS will support financing for projects aligned with the Sustainable Development Goals (SDGs), under Mexico’s Sovereign Sustainable Financing Framework. Through transactions such as this, the Mexican government continues to advance the development of the country’s sustainable finance market.
Each new issuance also contributes to the strengthening of benchmark yield curves in the domestic market, while providing investors with transparent and measurable instruments that continue to enhance the depth, liquidity and credibility of the ESG market.
According to Álvaro Vaqueiro Ussel, Head of Corporate and Investment Banking at BBVA Mexico, “this second BONDESG and Bonos MS issuance of the year highlights the Federal Government’s commitment to incorporating ESG criteria into its programmes, in line with efforts to foster sustainable and inclusive economic growth.” BBVA Mexico’s participation in this transaction reinforces the development and consolidation of Mexico’s sustainable bond market.
In terms of sustainable business mobilisation, BBVA Mexico reported a cumulative total of MXN470.411 billion as of year-end 2025. During the first quarter of 2026 alone, the bank channelled MXN121.277 billion in sustainable financing.