MEXICO´S DEVELOPMENT BANK FOR INTERNATIONAL TRADE (BANCOMEXT) RECOGNISED FOR ISSUING ITS 1ST HYBRID INSTRUMENT EVER
- BANCOMEXT foresees a continued presence in international capital markets, through additional issuances, at least once a year.
LONDON, United Kingdom, 22nd June 2017. - Mexico´s Export-Import Development Bank for International Trade (BANCOMEXT for its acronym in Spanish) was recognised with the “Deal of the Year” award from London-based WorldFinance magazine due to its successful international issuance of subordinated capital notes, known as Tier 2 bonds.
The Bank´s Director-General, Francisco N. González Díaz, received the award at the London Stock Exchange, in the category “Quasi-sovereign Debt”, during a two-day working visit to the United Kingdom.
González will meet with international banks, private and institutional investors to discuss opportunities in Mexico and BANCOMEXT’s consolidation as a self-sustaining and solidly capitalized institution for development banking.
As part of its strategy to strengthen its capital ratio, in August 2016 Mexico’s wholly-owned export – import development bank, launched a landmark issuance of US$700 Million, 3.80% 10NC5 Basel-III, compliant Tier 2 Offering. Due to the excellent reception by a large number of investors, the offering was oversubscribed by close to 8 times its original amount and received orders from a large number of US, European, Asian and Latin American investors.
BANCOMEXT foresees a continued presence in international capital markets, through additional issuances, at least once a year, of either senior or subordinated notes.
Earlier in June BANCOMEXT was recognized as the “Bank of the Year 2017” by the Latin American Association of Financial Institutions for Development (ALIDE for its acronym in Spanish) becoming the first development bank in the region achieving this recognition.