Deal | 06 August 2025
CMPC issues green-labeled local bonds with BBVA Mexico as sole bookrunner
BBVA Mexico acted as sole bookrunner in CMPC’s issuance of long-term green-labeled certificados bursátiles worth MXN 2.5 billion. The deal is part of the company’s revolving local bond program with a maximum authorized amount of up to MXN 10 billion, and was issued under the ticker CMPC 25V.
The three-year bonds were rated AAA(mex) by Fitch Ratings and HR AAA by HR Ratings, and are linked to the TIIE de Fondeo floating benchmark. The green label is backed by CMPC’s current Sustainable Financing Framework, which carries a Second Party Opinion (SPO) from DNV Business Assurance USA, Inc.. Net proceeds were allocated to the refinancing of the CMPC 23V series, as well as to the financing or refinancing of green projects aligned with the framework.
This transaction underscores CMPC’s long-term commitment to sustainability and the circular economy. Eligible use of proceeds includes projects aimed at improving energy efficiency, water resource management, emissions reduction, and the conservation of certified forest areas. The top-tier ratings from both agencies highlight not only CMPC’s robust credit fundamentals but also the structural strength of the instrument.
CMPC is one of Latin America’s leading industrial conglomerates. With operations in eight countries, it has a strong presence in the pulp, tissue, biopackaging, and wood products sectors. Its sustainable growth strategy is built on vertical integration, operational efficiency, and diversification. CMPC’s installed pulp production capacity reaches 4.8 million tons per year, supported by over 800,000 hectares of certified forest plantations.
BBVA served as sole bookrunner on the transaction, bringing deep expertise in corporate debt structuring and a strategic focus on sustainable finance. This transaction further consolidates BBVA’s leadership in the Mexican debt capital market, particularly in ESG-labeled instruments.
The deal marks another step forward in BBVA’s role as a reference financial partner for global issuers seeking to tap into the local market with innovative and responsible structures.
The three-year bonds were rated AAA(mex) by Fitch Ratings and HR AAA by HR Ratings, and are linked to the TIIE de Fondeo floating benchmark. The green label is backed by CMPC’s current Sustainable Financing Framework, which carries a Second Party Opinion (SPO) from DNV Business Assurance USA, Inc.. Net proceeds were allocated to the refinancing of the CMPC 23V series, as well as to the financing or refinancing of green projects aligned with the framework.
This transaction underscores CMPC’s long-term commitment to sustainability and the circular economy. Eligible use of proceeds includes projects aimed at improving energy efficiency, water resource management, emissions reduction, and the conservation of certified forest areas. The top-tier ratings from both agencies highlight not only CMPC’s robust credit fundamentals but also the structural strength of the instrument.
CMPC is one of Latin America’s leading industrial conglomerates. With operations in eight countries, it has a strong presence in the pulp, tissue, biopackaging, and wood products sectors. Its sustainable growth strategy is built on vertical integration, operational efficiency, and diversification. CMPC’s installed pulp production capacity reaches 4.8 million tons per year, supported by over 800,000 hectares of certified forest plantations.
BBVA served as sole bookrunner on the transaction, bringing deep expertise in corporate debt structuring and a strategic focus on sustainable finance. This transaction further consolidates BBVA’s leadership in the Mexican debt capital market, particularly in ESG-labeled instruments.
The deal marks another step forward in BBVA’s role as a reference financial partner for global issuers seeking to tap into the local market with innovative and responsible structures.