Mexico

BBVA’s Mexican subsidiary made an opportunistic return to the international markets on Tuesday, raising dollar funding at a record low cost ahead of a bond maturing next March.

BBVA’s Mexican subsidiary, Bancomer, on Tuesday provided one of the clearest examples yet of the attractiveness of international bond markets for Latin American borrowers as it notched the lowest ever coupon on a dollar deal from a bank from the region.

Mexican cement producer Cemex sold its second dollar bond in three months on Monday, fetching lower pricing at a longer maturity than on its June outing as observers saw a slim new issue concession amid what one analyst called recent “insatiable” demand for the credit.

Seven months after it visited European investors to market the idea, Mexico sold the first sovereign bond explicitly aligned to the United Nations’ Sustainable Development Goals (SDG) on Monday, saying it was the first step on the way to building an external yield curve of sustainable bonds.

BBVA’s Mexican subsidiary BBVA Bancomer is looking for its first international bond in a year after mandating banks to lead a senior unsecured deal.

Private Mexican energy company Infraestructura Energética Nova (IENova) began calls with fixed income investors on Wednesday as it plans a second visit to international bond markets.

A bumper order book allowed Mexican bottling company Coca-Cola Femsa to sell a debut green bond inside guidance and inside its own curve this week, as the green aspect of the deal further broadened the audience for a credit that already holds diverse appeal.

Coca-Cola Femsa, the world’s largest franchised Coca-Cola bottler, is preparing to sell a debut green bond that it says it will use to finance its transition towards low-carbon operations and minimise its exposure to environmental risks.

Mexican miner Industrias Peñoles sold $600m of bonds on Thursday to keep Latin American primary markets ticking over as sell-side bankers expect only a trickle of deals from the region until September.

Industrias Peñoles, the world’s largest producer of refined silver, began investor calls on Wednesday ahead of a proposed $600m bond issue with the Mexican mining company largely unaffected by the impact coronavirus pandemic.

Mexican real estate investment trust Fibra Uno returned to the bond markets on Wednesday to price a postponed tap of its 2030 and 2050 notes.

Mexican lender Banorte and Colombia’s second largest telecoms company began investor calls on Monday as Latin American borrowers look for funding in the wake of a rally that reawakened issuer interest in bond markets.