Debt Issuance - 2020 ANNUAL REPORT
Debt Issuance
The Adjunct General Directorate of Issuance and International Relations constantly monitors the different capital markets indicators, as well as the secondary market for Bancomext's debt issues, in both local and international markets. In the local market, Bancomext issues Development Banking Stock Certificates.
At the end of 2020, ten current Cebures were issued for a total of 31,000 million pesos, including the last two issues in December 2020, for a total of 10,000 million pesos. The terms and conditions of which were as follows:
| Issuance Code: | BACMEXT 20 |
Currency: | Mexican currency |
Amount: | $3,000’000,000.00 |
Term: | 3 years |
Issue Date: | December 18, 2020 |
Due date: | December 15, 2023 |
Interest rate: | TIIE – 0.03% |
Interest payment frequency: | Every 28 days |
Issuance Code: | BACMEXT 20-2 |
Currency: | Mexican currency |
Amount: | $7,000’000,000.00 |
Term: | 7 years |
Issue Date: | December 18, 2020 |
Due date: | December 10, 2027 |
Interest rate: | 5.68% |
Interest payment frequency: | Every 182 days |
On occasion, this funding is converted to USD through Swap operations to complement funding in USD. In the international market, Bancomext has a Senior bond in force for 1,000 million dollars maturing in October 2025:
Amount: | US$ 1 billion |
Fecha de emisión: | October 14, 2015 |
Due date: | October 14, 2025 |
Term: | 10 years |
Format: | 144A / Reg S |
Agency Rating: | A3/BBB+ (Moody’s /S&P) |
Coupon: | 4.375% |
Yield: | 4.410% |
Price: | 99.719 |
The bank also has access to other markets such as the Swiss, Japanese, and Australian markets.
In addition, Bancomext issued the first and only subordinated bond as a Mexican development bank in August 2016, which significantly strengthened the bank's capitalization index. The issuance was for an amount of 700 million dollars, with the following terms, which will be refinanced during the first half of 2021:
Amount: | US$ 700 million |
Issue date: | August 11, 2016 |
Due date: | August 11, 2026 |
Term: | 10 years |
Prepaid Option: | On the term 5th anniversary |
Format: | 144A / Reg S |
Agency Rating: | BBB/Ba1 (Fitch/Moody’s) |
Coupon: | 3.800% |
Yield: | 4.032% |
Price: | 98.859 |