HIR Casa Executes Largest Securitization of the Year to Date, Raising MXN 2 Billion with BBVA as Sole Structuring Agent

BBVA, acting as Sole Structuring Agent and Joint Bookrunner, advised HIR Casa on the successful placement of its fourth and fifth public mortgage-backed securitizations, raising a total of MXN 2 billion. The deal stands out as the most significant issuance in the sector so far in 2025.

This transaction strengthens HIR Casa’s capacity to secure long-term funding via the capital markets and reflects growing investor appetite for high-quality asset-backed securities. Both tranches received top-tier credit ratings—“AAA.mx” from Moody’s and “HR AAA” from HR Ratings.

The deal was structured in two tranches:

HIRCB 25: MXN 1.4 billion at a floating rate of TIIE de Fondeo plus 225 basis points, with scheduled amortization over five years and an average life of 2.6 years.

HIRCB 25-2: MXN 600 million at a fixed rate, with a six-year bullet maturity, an average life of 3.1 years, and a 10.67% coupon—220 basis points above the M Bond due 2028.

The offering attracted total demand of MXN 3.353 billion, equivalent to 1.67x the issued amount, underscoring sustained investor interest in mortgage-backed structures.

With over three decades of experience in the real estate sector, HIR Casa specializes in housing finance solutions. This issuance supports its growth strategy and reaffirms its ability to structure sustainable funding in a challenging market environment.

BBVA reinforces its commitment to the development of Mexico’s structured debt market, delivering financing solutions that advance the strategic goals of leading corporates.