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29 August 2022

Banco Compartamos, assisted by BBVA, successfully places its second issue of an MXN2.5 billion gender bond


BBVA México assisted Banco Compartamos S.A., Institución de Banca Múltiple, in its successful placement of notes totaling MXN2.5 billion under ticker symbol COMPART 22S. This is the second deal of this type for the bank.


The gender bond was placed at a rate of 60bp over the 28-day TIIE, in line with the starting price, resulting in a first coupon of 9.40% at 4 years in floating form, with total demand of MXN3.61 billion, 1.45 times the amount placed. This reflects the confidence and acceptance of local investors toward the bank, which is remarkable considering the complexities of the market climate at the moment.


The issue was assigned a credit rating of mxAA by S&P Global Ratings ,and AA(mex) by Fitch México. The book includes a prominent number of Afores, development banks and brokerage firms/money desks.  The proceeds will be used to pay down existing debt and expand the loan portfolio.


Banco Compartamos has been active for more than 31 years in Mexico, working to provide opportunities that support the advancement of its clients and their communities. At present more than 90% of these are women.


We are grateful to Banco Compartamos for having selected BBVA as Co-Lead Underwriter and for its encouragement in this significant transaction, through which we reiterate our commitment to continuing to support companies that work for inclusive development in Mexico.