Press Release

Successful new Bladex bond issue in the Mexican capital markets

Bnamericas Published: Tuesday, June 09, 2020


June 8, 2020

Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex” or the “Bank”), announces its fifth issuance of Mexican corporate bonds (Cebures) for the amount of MXN 3 billion (three billion Mexican pesos). 

The Notes have been issued under a dual-tranche structure, of three and five years. The former with a floating-rate coupon of 28-day TIIE plus 58 basis points and the latter at M-Bono+140 basis points. 

In a highly volatile market environment, Bladex's issuance was very well received by a diversified investor base, including pension funds, insurance companies, investment companies, private banks and treasuries. The total demand was oversubscribed by 1.55 times. 

Mr. Jorge Salas, Chief Executive Officer, and Mr. Eduardo Vivone, Executive Vice President of Treasury and Capital Markets commented: “We are very pleased with the success of this new Bladex placement, as well as with the relevance it had for the Mexican capital market, in a challenging global context. This is the first transaction since the end of March 2020 with a wide participation from institutional investors, and it will surely serve as reference for subsequent issuers. This outcome clearly demonstrates investor confidence in our Bank’s franchise and solid financial profile. Likewise, we are deeply satisfied to have become a recurrent issuer in this market, as Banco de México is one of our founding shareholders. The proceeds from this new issuance will be dedicated to support our clients throughout the Region and especially in the Mexican market. Finally, we would like to thank both bookrunners for a very professional and seamless execution”. 

The issuance was rated “mxAAA” by S&P Global Ratings, S.A. de C.V. and “AAA(mex)” by Fitch Mexico, S.A. de C.V. The arrangers were Casa de Bolsa BBVA, S.A. de C.V., Grupo Financiero BBVA and Casa de Bolsa Santander, S.A. de C.V., Grupo Financiero Santander México. 


Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations. Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries, commercial banks and financial institutions, and institutional and retail investors through its public listing.

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