BBVA Mexico acts as placement agent in INFONACOT’s MXN 8 billion debt Certificate Issuance

The transaction for the National Fund Institute for Workers' Consumption (INFONACOT) achieved the highest local ratings, reflecting the Institute's financial robustness, and garnered a total demand of MXN 12.103 billion.

BBVA Mexico has acted as Placement Agent in the issuance of Debt Certificates (CEBURES) of the National Fund Institute for Workers' Consumption (INFONACOT), under its program authorized by the CNBV for up to MXN 60 billion. A key transaction that strengthens its commitment to the well-being of formal workers in Mexico.

The transaction has been successfully carried out, meeting the initially established target amount and consolidating BBVA Corporate & Investment Banking's position as a strategic financial partner in this type of debt issuances.

Placement Details: Overallotment and AAA Ratings

The placement reached a total amount of MXN 8 billion, after exercising the 100% overallotment option on the target amount of MXN 4 billion thanks to high investor demand. The issuance was structured in two tranches: a floating tranche, MXN 3.334 billion, with ticker FNCOT 25-2, at 3 years, at a TIIE Funding rate plus 60 basis points, 5 points below the indicative price shared with the market, and a nominal fixed tranche, MXN 4.666 billion, with ticker FNCOT 25-3 at 5 years, at an Mbono rate plus 79 basis points, 6 points below the indicative price released to the market.

The assigned ratings have been the highest in the market: AAA.mx by Moody’s Local Mexico and HR AAA by HR Ratings, reflecting the Institute's financial soundness and supported by its placement at historical levels.

INFONACOT's Financial Strategy: Efficiency and SDG Impact

The Institute has implemented a financial strategy focused on reducing its exposure to liquidity and refinancing risks, through a balanced use of credit lines and long-term issuances, always prioritizing the most efficient financing sources in terms of cost.

The Institute's active operations with formal workers in the economy are aligned with the UN Sustainable Development Goals (SDGs), particularly: SDG 1: No Poverty, SDG 5: Gender Equality, SDG 8: Decent Work and Economic Growth, and SDG 10: Reduced Inequalities. Likewise, INFONACOT integrates ESG criteria into its financing strategy, reinforcing its role as an entity with a positive impact on the national economy.

BBVA CIB Reaffirms Leadership and Commitment to Workers

"For BBVA, it is an honor to accompany INFONACOT in this operation in the debt market. The issuance highlights investor confidence in the Institute's soundness and reinforces our commitment to a financing model that promotes the well-being of formal Mexican workers," states Adolfo Osorio, Head of Client Coverage & Sustainability at BBVA Mexico.

With this transaction, BBVA CIB reaffirms its leadership in the local debt market and its commitment to supporting institutions that strengthen access to credit under competitive conditions for workers in Mexico.