Mexico's Banobras joins green rush
The Mexican development bank courts investors for approximately $559m in local currency securities
Banobras is the latest Mexican financial institution to join
the rush for green securities, charting a potential MXN10bn
The development bank is expected to print a three-year
floater and a seven-year fixed rate bond, according to a report
Both Moody's and Fitch Ratings gave the prospective new
issue a AAA local rating. Moody's said proceeds will be
invested in green and social projects that support sustainable
developments in Mexico.
Banorte-IXE, HSBC and Santander are leading the trade.
Fellow development bank
Nafin sold a MXN2bn green bond in September last year.