Bancomext placed sustainable bonds to finance social and environmental projects

The National Bank of Foreign Trade (Bancomext) from Mexico has completed the placement of sustainability-labelled bonds for an amount in local currency equivalent to approximately 830 million dollars. The proceeds will strengthen and guarantee financing programs for Mexican companies in vulnerable areas, as well as sustainable projects with environmental and social impact, with the aim of driving the transition to a low-carbon economy.

The placement was structured in three tranches: 1) a 3.5-year, variable-rate tranche in local currency; 2) a 10-year, fixed-rate tranche in local currency; and 3) a 3-year, fixed-rate tranche in US dollars. The transaction was over-subscribed by 2.5 times the original target amount.