BBVA supports the local infrastructure market with the successful placement of trust-backed certificates (CBFs) for AUNETI

BBVA, committed to supporting the development of strategic infrastructure in Mexico, acted as Placement Intermediary and Sole Structuring Agent in the successful issuance of trust-backed certificates (CBFs) for Autovía Necaxa Tihuatlán (AUNETI). The UDI-denominated issue totaled MXN12.9 million, priced at 149 basis points over the 32-year UDIBONO, with balloon payments and real fixed format. The notes were rated “AAA(mex)” by Fitch Ratings and “HR AAA” by HR Ratings.

Demand for the notes was outstanding, reaching MXN15.83 billion,  1.23 times the amount issued. Bids were received from a broad and diversified investor base, reflecting confidence in AUNETI's solid fundamentals and the structure of the instrument.

A strategic highway

The Nuevo Necaxa - Tihuatlán highway is operated directly by AUNETI, a subsidiary of ICA. This road is part of the Mexico-Tuxpan highway axis and will increase transportation efficiency between central Mexico and the Gulf, promote the development of the northern area of the state of Veracruz and provide an alternative means of communication with Mexico’s neighbors to the north via the state of Tamaulipas. At the local level, the highway connects Mexico State with Hidalgo, Veracruz and Puebla, enabling economic development and the exchange of goods in the regions of those states.

ICA is leader in infrastructure and construction in Mexico, with more than 77 years of experience in 20 countries, 7 sectors and a solid portfolio of assets. ICA is the largest infrastructure and construction company in Mexico, with a presence in every state in the country. It has experience in the operation of highway infrastructure, with more than 60 lanes in operation and 1,400 lane-km of federal and state highways.

Commitment to Mexico's development

BBVA is grateful for ICA's confidence in selecting it as Placement Intermediary and Sole Structuring Agent in this strategic transaction and reiterates its ongoing commitment to supporting projects that contribute to the development of transportation and infrastructure in Mexico. With this placement, BBVA reaffirms its leadership in the capital markets and its ability to offer innovative financial solutions that drive the growth of large corporations and investors in the country.