August 30, 2017 |
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 ($558.7m)
The development bank is expected to print a three-year
floater and a seven-year fixed rate bond, according to a report from Moody’s.
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.