24 June 2024

BBVA participates as Structurer and Joint Bookrunner in the placement of notes for Engen Capital.


We are pleased to announce the successful placement of notes by Engen Capital, rated "AAA(mex)" by Fitch, "HR AAA" by HR and "AAA.mx" by Moody's, for a total of MXN4.5 billion. The deal involved a combination of formats:

  • ENGENCB 24: MXN2.7 billion were placed at a floating rate of 210bp over the TIIE at a term of 5.5 years.
  • ENGENCB 24-2: another MXN1.8 billion were placed at a spread of 264 basis points over the MBono 2027-2029.

BBVA participated as Structurer and Joint Bookrunner in the issue, which was met by total demand of MXN7.80 billion, a bid-to-cover ratio of about 2.2 times, and was placed across a diversified investor base of Afores, development banks / decentralized entities, brokerage houses / money markets, investment funds and insurers, as well as private banks and independent advisors.


Engen is a leading financial player in the Mexican market, specializing in long-term corporate finance, including leasing, lease-financing and corporate credit. Engen has more than 30 years of experience and has extended more than MXN121.8 billion in financing since 2012, covering sectors such as food, construction, energy, health, and telecommunications, among others. It currently has more than MXN35 billion in assets and more than 750 employees.


We thank Engen Capital for their trust and for choosing us as Structurer and Joint Bookrunner in this successful placement. We reiterate our commitment to continuing to support this group in their growth plans, which contribute to the development of transportation in Mexico.