News | 22 July 2026
BBVA Mexico participates in FEFA’s MXN 8 billion issuance
BBVA Mexico acted as Bookrunner in the issuance of MXN 8 billion in long-term local bonds by Fondo Especial para Financiamientos Agropecuarios (FEFA). The transaction reaffirms FIRA’s consistent and successful access to the local debt market and strengthens the availability of funding for Mexico’s agri-food sector.
The transaction was structured across three floating-rate tranches linked to the TIIE Funding Rate: FEFA 26-3, maturing in February 2028; FEFA 26-4, maturing in July 2029; and FEFA 26G, FIRA’s fifth Gender Social Bond, maturing in July 2031. The issuances received national-scale credit ratings of ‘mxAAA’ from S&P Global Ratings and ‘HR AAA’ from HR Ratings.
A key feature of the transaction is the inclusion of FIRA’s fifth Gender Social Bond, an instrument aligned with its Sustainable Bond Framework and supported by an independent second-party opinion from Sustainalytics. The proceeds will be used to finance loans granted to women, promoting greater financial inclusion, participation in the workforce and productive activities, as well as entrepreneurship and business development in rural areas.
Álvaro Vaqueiro Ussel, Head of Corporate & Investment Banking at BBVA Mexico, said: “This transaction confirms FEFA’s ability to access the capital markets consistently and efficiently, as well as investors’ interest in instruments that combine strong credit quality with the financing of programmes that have a significant impact on gender equality and rural development. The issuance further deepens Mexico’s local sustainable debt market and helps channel funding towards strategic segments that support productivity, financial inclusion and long-term economic growth.”
The issuance represents another step in the implementation of FIRA’s institutional strategy, which has positioned the organisation as one of the leading participants in Mexico’s sustainable finance market.
For BBVA Mexico, the transaction reinforces its role as an active participant in the structuring and distribution of financing solutions that connect strategic issuers with institutional investors, contributing to the development of the local debt market and mobilising capital towards initiatives with measurable economic and social impact.