Banco Latinoamericano de Comercio Exterior (Bladex) places 4 billion pesos in notes, accompanied by BBVA

BBVA México participated as Lead Underwriter in a local market issue of notes for Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) totaling MXN4 billion.

The transaction went out in two tranches:

• BLADEX 23: totaling MXN2.5 billion at 3 years, placed at a floating rate of 45 basis points above the 28-day TIIE, in line with the initial price talk (IPT)
• BLADEX 23-2: totaling MXN1.5 billion at 5 years, at a fixed rate of the interpolated MBONO 27-29 plus 85 basis points, resulting in a coupon rate of 9.75%, also in line with the IPT

The issue received a credit rating of mxAAA from S&P and AAA(mex) from Fitch. The proceeds will be used to finance the bank’s lending activity.

The transaction was well received in the local market, with demand totaling MXN5.71  billion, equivalent to 1.43 times the amount assigned, and with the participation of the entire base of local investors, particularly Afores, mutual funds, insurance companies, brokerage firms, independent advisors and private bankers.

Bladex has built up a solid franchise with more than 40 years of experience, an extensive presence in Latin America and a thorough knowledge of the risks and opportunities of the region, which have made it a driving force in foreign trade in the region.

BBVA thanks Bladex for entrusting us with the execution of this important transaction, through which we confirm BBVA’s interest in assisting clients with the development of their major projects.