Banco Base SA Institución de Banca Múltiple Grupo Financiero Base has raised 500 million Mexican pesos from a Feb. 16 bond auction, the bank said in a securities filing.

The bonds will mature Feb. 17, 2021, and yield at a rate determined by the 29-day TIIE benchmark rate with a surcharge of 1.15 percentage points. The securities will be issued Feb. 21.

The rate applicable in the first interest period, effective on March 21, was set at 8.96%.

The bond obtained an A(mex) rating from Fitch Ratings and a mxA rating from S&P Global Ratings.

The offering is part of the bank's 2 billion peso, long-term debt issuance program.

Casa de Bolsa Base acted as placement broker.

As of Feb. 20, US$1 was equivalent to 18.66 Mexican pesos.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.