Fonacot issues gender bonds on BIVA

Fonacot issues gender bonds on BIVA

Bonds Debt Loans ESG Social Bonds Mexico

Mexico's state-backed consumer lender Fonacot said it issued MXN1.5 billion ($75.7 million) in 2024 gender bonds on the BIVA stock exchange in Mexico City, raising money to provide loans to working women Fonacot priced the three-year bonds at 20 basis points over the 28-day TIIE interbank lending rate, compared to an average spread of 45 basis points for long-term, floating-rate notes from investment-grade corporate issuers, it said in a press release on Thursday. The deal was 2.21 times oversub

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