Ferromex returns to Mexican bond market

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Get the news on sustainable finance & investment in Latin America Email * Company * Δ NEWSLETTER DELIVERED MONTHLY THANKS TO Railroad operator Ferrocarril Mexicano is set to print bonds in Mexico for the first time in four years. The company, which is known as Ferromex, plans to raise up to MXN 6.5 billion ($316 million) in a two-part deal, pricing a 3.5-year note at a floating rate and a 7-year bond at a fixed rate, it said in a securities filing. Its target is to raise MXN5.5 billion, with an overallocation of MXN1 billion. HSBC, Inbursa, and Santander will act as underwriters on the offering, which is scheduled for May 8, Ferromex said. S&P Global and Fitch both rate the bonds AAA on their local scales. ADVERTISEMENT Tailored Strategies to Provide Water and Sanitation to Brazil’s ‘Favelas’ When a new law allowed private capital to enter the sector, water and sanitation companies established programs that enabled them to work efficiently in vulnerable communities. Ferromex was last active in the bond market in May 2021, when it raised MXN5 billion in a two-part sale to pay off debt. Meanwhile, Mexican real estate developer Vinte Viviendas Integrales said it raised MXN820.8 million in a sale of sustainable bonds, pricing a 2034 note at a fixed rate of 203 basis points over Mbonos. Vinte, which borrowed MXN6 billion from International Finance Corporation last November to finance green housing and the acquisition of smaller rival Javer, will use the latest fundraising to partially finance the construction of sustainable communities up to 300 kilometers south of the Mexico-US border, it said. More Sustainable Finance & Investment News FREE TO READ THANKS TO Bimbo, Nafin print local bonds Mercader plans local ESG bond sale Climate Fund Managers expands LatAm ESG portfolio CABEI prices maiden sterling bond Cargill buys out SJC Bionergia investors BBVA México signs new SLL BBVA Perú prints gender bonds Aegea gets fresh BNDES financing GDPar to price second Brazil bond Aguas Andinas returns to Chile market with ESG bond CABEI plans sterling bond debut CCR secures renewables supply Load more posts Something went wrong. Please refresh the page and/or try again.