Traton Financial Services México Strengthens Market Position with Successful MXN 2.5 Billion CEBURES Issuance Backed by BBVA

BBVA México is pleased to have acted as joint bookrunner in the successful placement of Certificados Bursátiles (CEBURES) by Traton Financial Services México, S.A. de C.V., SOFOM, E.R., totaling MXN 2.5 billion, further consolidating the company’s local funding strategy.

The issuance was structured in two tranches under a communicating vessels framework:

• TFSMX 25: MXN 340 million, floating rate notes with a 3-year maturity, priced at TIIE de Fondeo plus 110 basis points.
• TFSMX 25-2: MXN 2.16 billion, fixed-rate notes with a 5-year tenor, priced at M Bono 30 (9.11%) plus 155 basis points, yielding a 10.66% coupon.

The transaction attracted strong investor demand of MXN 2.823 billion—representing a 1.13x oversubscription rate—with participation from key institutional investors, including pension funds (Afores), mutual funds, broker-dealers, and corporate treasuries.

This successful issuance supports the growth plans of Traton Financial Services México, the financial arm of Traton Group—a global leader in commercial vehicle manufacturing encompassing four major brands: Volkswagen Truck & Bus, MAN, Scania, and International.

With operations in 17 countries and a workforce of over 84,000 employees, Traton Group is committed to reshaping the future of transportation through innovative and sustainable products and services that prioritize both people and the planet.

BBVA’s role as placement agent in this landmark transaction underscores its commitment to developing the local debt capital markets and its ability to deliver tailor-made financial solutions to its corporate clients. The seamless execution of this deal further solidifies BBVA’s leadership in investment banking in Mexico.

We congratulate Traton Financial Services México on this key milestone in its financial strategy and deeply appreciate the trust placed in BBVA to support them in such a strategic transaction.