Deal | 15 October 2025
Banco Compartamos issues MXN 5 billion in Bank Notes with BBVA México as Lead Underwriter
BBVA México, acting as Underwriter, supported Banco Compartamos in the issuance of Bank Notes (Certificados Bursátiles Bancarios, or Cebures) totaling MXN 5 billion, which was 2.4 times oversubscribed.
The transaction was well received by the market, drawing total demand of MXN 11.77 billion. The notes were rated AA.mx by Moody’s Local and AA(mex) by Fitch Ratings.
The issuance was structured in two tranches:
Both tranches are Social Bonds, aimed at advancing financial inclusion through projects meeting specific eligibility criteria in:
Banco Compartamos is a leading Mexican microfinance bank with over 30 years of experience. The institution combines a solid ESG profile—centered on financial inclusion and women’s empowerment—with consistent financial performance, high resilience, and strong growth potential, positioning itself as a key player in Mexico’s social and economic transformation.
This transaction underscores BBVA México’s commitment to sustainable finance, by providing socially driven companies access to the capital markets and comprehensive financial solutions that foster their growth and long-term development.
Congratulations to Banco Compartamos on this significant milestone, and our appreciation for the trust placed in BBVA México to accompany this landmark transaction.
The transaction was well received by the market, drawing total demand of MXN 11.77 billion. The notes were rated AA.mx by Moody’s Local and AA(mex) by Fitch Ratings.
The issuance was structured in two tranches:
- COMPART 25-3S: A 3.5-year floating-rate tranche for MXN 3 billion, priced at TIIE de Fondeo +84 basis points.
- COMPART 25-4S: A 7-year fixed-rate tranche for MXN 2 billion, priced at interpolated MBono 31/33 +120 basis points, with a coupon of 9.58%.
Both tranches are Social Bonds, aimed at advancing financial inclusion through projects meeting specific eligibility criteria in:
- Job creation, through microfinance initiatives and entrepreneurship support.
- Socioeconomic empowerment of women, by financing women-led businesses.
- Access to essential financial services, strengthening the economic fabric of vulnerable communities.
Banco Compartamos is a leading Mexican microfinance bank with over 30 years of experience. The institution combines a solid ESG profile—centered on financial inclusion and women’s empowerment—with consistent financial performance, high resilience, and strong growth potential, positioning itself as a key player in Mexico’s social and economic transformation.
This transaction underscores BBVA México’s commitment to sustainable finance, by providing socially driven companies access to the capital markets and comprehensive financial solutions that foster their growth and long-term development.
Congratulations to Banco Compartamos on this significant milestone, and our appreciation for the trust placed in BBVA México to accompany this landmark transaction.