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IDB Invest Issues Social Bond in Mexico with Record Volume of 3.5 Billion Pesos

  • Broad investor participation underscores confidence in the institution and its commitment to creating social impact through the private sector


IDB Invest issued a social bond for 3.5 billion Mexican pesos (equivalent to approximately $195 million) with a three-year tenor in Mexico. The bond is listed on the BIVA stock exchange and is IDB Invest's third social issuance in Mexico. Moreover, it constitutes IDB Invest’s largest bond issuance in the Mexican market to date, affirming the institution’s commitment to lead sustainable issuances in Latin America and the Caribbean.


The funds raised will finance social projects aimed at improving lives across Latin America and the Caribbean, advancing equity and socioeconomic empowerment, supporting job creation, and improving access to essential services, food security, and basic infrastructure. IDB Invest’s social bonds have already yielded important results, including financing 570,000 micro, small and medium-sized enterprises (MSMEs), improving access to water and sanitation services for more than 657,000 families, and providing health services to more than 14,000 beneficiaries.


The bond issuance received local ratings of by Moody's and AAA(mex) by Fitch Ratings, respectively. BBVA and HSBC acted as placement agents in the transaction. The transaction was 1.2 times oversubscribed, with MXN$ 4.185 billion of orders in Mexican pesos. The strong demand allowed the placement agents to set the size of the bond at 3.5 billion pesos, the maximum amount of the range between 2,000 and 3.5 billion pesos announced during marketing, with a floating rate of 10 basis points over TIIE 28. Investment funds accounted for 47% of the bonds issued, 26% pension funds (Afores), 21% brokerage firms and the remaining 6% banks.


The successful result reflects the strong interest of investors in Mexico in sustainable bonds and is a recognition of IDB Invest's commitment to improving lives in Latin America and the Caribbean through the private sector.


"This bond represents a firm commitment to improving lives through IDB Invest's social agenda and will help create jobs and strengthen private sector companies, which is fundamental to the country's continued economic growth," said Ernesto Stein, IDB Group Representative in Mexico.


Orlando Ferreira, Chief Financial Officer of IDB Invest, commented: "This important issuance highlights IDB Invest's confidence in the Mexican capital market to raise funds for social causes. We are grateful to our investors who have once again placed their trust in our institution for their continued support of IDB Invest in its mission to foster the growth of private sector companies in the region."


Distribution by type of investor

Investment Funds


Pension Funds


Brokerage Firms


Banks & Private Banking



Broadcast Summary


Inter-American Investment Corporation (IDB Invest)

Issue Ratings: (Moody's), AAA(mex) (Fitch)

Code  and Securities Classification:

JI, Certificates of Multilateral Organizations

Issue Amount:

MXN $3,500,000,000

Book Closing Date:

October 17, 2023

Settlement Date:

October 19, 2023

Expiration Date

October 15, 2026

Interest Rate:

TIIE 28 days + 0.10%

Interest rate for the first interest period:


Issue Price:



Bolsa Institucional de Valores (BIVA)

BIVA Identifier:


Common Representative:

Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Financiero

Placement Agents:

Casa de Bolsa BBVA México, S.A. de C.V., Grupo Financiero BBVA México

HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC


About IDB Invest

 IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of sectors.