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Institute FONACOT from Mexico issues social bonds
08/23/2022 Since 2 years

Mexico’s Instituto del Fondo Nacional para el Consumo de los Trabajadores (FONACOT) encourages the integral development of workers and the growth of their family wealth, promoting access to credit for obtaining goods and services.

FONACOT recently issued a social bond in the debt market for approximately US$200 million in local currency, aimed at promoting formal financing for the country’s workers, with an emphasis on women in the southeastern region. FONACOT will offer loans with zero origination fees and a preferential interest rate to help increase the credit capacity of women workers in the states of Campeche, Chiapas, Guerrero, Oaxaca, Puebla, Quintana Roo, Tabasco, Tlaxcala, Veracruz, and Yucatán. The issue was rated AAA (mex) by Fitch and HR AAA by HR.