Bladex places MXN3 billion in notes with the assistance of BBVA

BBVA México worked with Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) in a placement of MXN3 billion in notes. This is the institution’s first issuance on the local market in 2024, and with it Bladex strengthens its participation in this market as a recurring issuer with widespread investor acceptance.

The notes were placed in two tranches:

• BLADEX24: For MXN1.7 billion at a term of 3 years and a floating rate of 40 basis points above the 28-day TIIE, 5bp below the initial price talk (IPT).
• BLADEX 23-3: For MXN1.3 billion at a term of 5.6 years and a fixed rate of the interpolated MBono 29  plus 88 basis points, resulting in a coupon rate of 9.32%, 5bp lower than the initial price talk (IPT).

The deal was warmly welcomed by the local market, with total demand of MXN6.05 billion, a bid-to-cover ratio of 2.02 times the amount assigned, and was placed among a broad base of local investors, particularly Afores, mutual funds, insurance firms, brokerage firms independent consultants and private banks.

Bladex, a multinational bank originally established by the central banks of Latin American and Caribbean countries, began operations in 1979 to promote trade finance and economic integration in the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico and the United States, supporting regional expansion and serving its client base, which includes financial institutions and corporations. Bladex has been listed on the New York Stock Exchange in the United States (NYSE: BLX) since 1992, and its shareholders include central and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.

BBVA México congratulates Bladex on the successful closure of this deal and thanks it for entrusting us with its execution, with which we confirm BBVA’s interest in assisting its clients in the development of major projects.