Deal | 14 August 2025
BBVA México Supports Bancomext in Successful MXN 12.84 Billion Debt Issuance
BBVA México, acting as Joint Bookrunner, participated in the successful issuance of Certificados Bursátiles (CEBURES) by Banco Nacional de Comercio Exterior (Bancomext) for a total of MXN 12.84 billion, reaffirming its commitment to financing strategic sectors and foreign trade activities in the Mexican economy.
The transaction was structured in two tranches aimed at reaching a diversified investor base:
The CEBURES carry AAA ratings from HR Ratings, Moody’s, and Fitch Ratings, underscoring Bancomext’s strong credit profile. As a development bank instrument, the issuance benefits from the explicit guarantee of the Federal Government, enhancing its appeal among institutional investors.
The deal was met with strong market demand, reaching total bids of MXN 17.01 billion — 2.3 times the originally targeted MXN 7.5 billion.
Proceeds will be used to fulfill Bancomext’s mandate as a development bank focused on promoting foreign trade and supporting strategic sectors of the economy through key initiatives such as:
Bancomext plays a pivotal role in implementing national public policy under the "Plan México", fostering import substitution, nearshoring, strengthening local supply chains, and integrating into global value chains.
At BBVA México, we take pride in supporting our clients in transactions that drive the country’s economic development. We thank Bancomext for its trust in selecting us as one of the joint bookrunners for this strategic transaction for Mexico’s financial and productive sectors.
The transaction was structured in two tranches aimed at reaching a diversified investor base:
- BACMEXT 25: MXN 6.55 billion with a 3.5-year maturity, priced at a floating rate of TIIE de Fondeo +25 basis points, within the initial price guidance range.
- BACMEXT 25-2: MXN 6.29 billion with a 10-year maturity, priced at MBono 34-36 +39 basis points, one basis point tighter than expected pricing.
The CEBURES carry AAA ratings from HR Ratings, Moody’s, and Fitch Ratings, underscoring Bancomext’s strong credit profile. As a development bank instrument, the issuance benefits from the explicit guarantee of the Federal Government, enhancing its appeal among institutional investors.
The deal was met with strong market demand, reaching total bids of MXN 17.01 billion — 2.3 times the originally targeted MXN 7.5 billion.
Proceeds will be used to fulfill Bancomext’s mandate as a development bank focused on promoting foreign trade and supporting strategic sectors of the economy through key initiatives such as:
- Financing for exporting and importing companies through credit facilities and supply chain support programs.
- Participation in infrastructure and energy projects.
- Support for government-priority sectors such as tourism, among others.
Bancomext plays a pivotal role in implementing national public policy under the "Plan México", fostering import substitution, nearshoring, strengthening local supply chains, and integrating into global value chains.
At BBVA México, we take pride in supporting our clients in transactions that drive the country’s economic development. We thank Bancomext for its trust in selecting us as one of the joint bookrunners for this strategic transaction for Mexico’s financial and productive sectors.