BBVA Bancomer – the Mexican subsidiary of Spanish bank BBVA – has issued 3.5bn pesos ($180m) of green bonds that will be used to finance three wind farms, energy-efficient buildings and other environmentally friendly projects.
The five-year bond, known as BACOMER 18V, is the first green bond issued by a privately-held bank in Mexico. The bonds will pay 10 basis points on top of Mexico’s 28-day interest rate the TIIE 28, which stands at around 7.6%.
