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BBVA Bancomer places local notes worth 7.00B pesos

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BBVA Bancomer places local notes worth 7.00B pesos

BBVA Bancomer SA Institución de Banca Múltiple Grupo Financiero BBVA Bancomer said it has completed the placement of two series of notes known as "Certificados Bursátiles" for up to a total of 7.00 billion Mexican pesos.

The BACOMER 17 and BACOMER 17-2 certificates have maturities of three and five years, respectively. Both issues were rated AAA on a local scale, the highest credit rating granted by Fitch Ratings and Moody's.

The interest rates are equivalent to Mexico's 28-day interbank offering rate, or TIIE, plus 23 and 35 basis points, respectively.

Demand for the notes reached 12.00 billion pesos, or 1.7x the amount of the offer.

Casa de Bolsa BBVA Bancomer acted as the sole placement agent.

As of June 6, US$1 was equivalent to 18.32 Mexican pesos.