News | 04 March 2026
Sigma Foods issues MXN 10 billion with BBVA México as bookrunner
BBVA México, acting as bookrunner, supported Sigma Foods, S.A.B. de C.V. in the issuance of MXN 10 billion in certificados bursátiles (local bonds), issued by its subsidiary Sigma Alimentos, S.A. de C.V. The proceeds from the issuances will be used by the company for general corporate purposes, including the refinancing of liabilities.
The issuance was structured in two tranches under a “vasos comunicantes” format (interlinked tranches): SIGMA 26, for MXN 3.45 billion, at a floating rate with a five-year maturity, priced at the Funding TIIE + 53 basis points; and SIGMA 26-2, for MXN 6.55 billion, at a fixed rate with a ten-year maturity, carrying a 9.17% coupon (MBono 2036 + 49 basis points).
Total demand reached three times the initial transaction target of MXN 6 billion. The transaction attracted participation from a broad and diversified investor base.
According to Álvaro Vaqueiro Ussel, responsible for Corporate and Investment Banking at BBVA México, “supporting a strategic partner such as Sigma Foods in this significant issuance clearly demonstrates the market’s confidence in the company’s strength and in BBVA México’s ability to design and execute tailored financial solutions for each client.”
Fitch Ratings assigned the issuance its highest rating on the national scale, ‘AAA(mex)’, indicating a very low expectation of credit risk relative to other issuers or issuances in Mexico. The agency highlighted Sigma’s strong business position as a producer of refrigerated foods with a portfolio of leading brands and a significant presence in the markets in which it operates, as well as stable operating performance and broad geographic and product diversification.
Sigma Foods is a leading multinational consumer company that produces, markets and distributes quality food products through a portfolio of more than 100 brands, 16 of which each generate annual sales of between US$100 million and US$1.4 billion. The company’s main categories include cold cuts, cured meats, cheese and yoghurt. Sigma Foods operates in 17 countries across four regions: Mexico, Europe, the United States and Latin America, serving 640,000 points of sale through three channels: Traditional, Modern and Foodservice.
Through this transaction, BBVA México strengthens its position in the domestic capital markets by supporting multinational enterprises in the structuring and execution of significant financial solutions, reinforcing its leadership in corporate and investment banking in the country.