Bancomext of Mexico places sustainable bonds for nearly 720 million dollars

The National Bank of Foreign Trade (Bancomext) of Mexico has placed sustainable bonds, known as Stock Certificates (Cebures), ranging from 3 to 10-year term for an amount in local currency equivalent to approximately 720 million dollars.

The resources will be allocated to sustainable projects, concentrating on those that contribute to boosting exports, strengthening value chains and enhancing the opportunities offered by nearshoring.

The issuance was defined in two tranches: i) first tranche with a 3.5-year term and variable interest rate for approximately 430 million dollars equivalent; and ii) second tranche with a 10-year term and fixed interest rate for approximately 290 million dollars equivalent. The operation was over-subscribed by 2.4x the original target amount, allowing Bancomext to exercise its over-allotment right.