Banobras is the latest Mexican financial institution to
join the rush for green securities, charting a potential MXN10bn ($558.7m)
trade.
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.
Fellow development
bank Nafin
sold a MXN2bn green bond in September last year.