Chicago, Sept. 12 – IDB Invest, a member of the Inter-American Development Bank Group, issued Ps. 1.5 billion of three-year floating-rate notes (/AAA/AAA), according to a notice on Thursday.
The floating-rate was 3 basis points below the TIIE 28 benchmark.
This is IDB Invest’s fifth bond issue in Mexico.
HSBC and Banco Santander acted as bookrunners.
The deal was more than 2.9 times oversubscribed with more than Ps. 4.2 billion of orders from 26 institutional accounts.
Proceeds will be used to fund projects in Mexico.
IDB is a member of IADB, which provides financing for Latin American and Caribbean countries and is based in Washington, D.C.
| Issuer: | IDB Invest
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| Issue: | Floating-rate notes
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| Amount: | Ps. 1.5 billion
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| Maturity: | September 2022
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| Dealer: | HSBC and Banco Santander
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| Coupon: | TIEE 28 benchmark minus 3 bps
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| Announcement date: | Sept. 12
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