Overview of the Event
Banco Compartamos, a subsidiary of Gentera, issued social bonds worth 5,000 million pesos via the Bolsa Institucional de Valores (Biva).
Background on Banco Compartamos and its Relevance
Banco Compartamos is a significant player in the micro, small, and medium-sized enterprise (mipymes) sector. As a subsidiary of Gentera, it focuses on providing financial services to underserved communities. The bank’s primary asset is its credit portfolio, which serves as a crucial lifeline for these businesses.
Details of the Bond Issuance
The bank’s executives explained that the funds obtained from these bonds will be used to continuously fund their credit portfolio. Iván Mancillas, the general director of Compartamos Banco, emphasized that these emissions aim to ensure stability and long-term funding certainty for the company.
The bond issuance took place in two tranches, totaling 5,000 million pesos through two public emissions of Bank Securities in the local debt market.
- The first tranche was for 3,000 million pesos at a term of 3.5 years with an interest rate of TIIE Fondeo +84 basis points, identified as COMPART 25-3S.
- The second tranche was for 2,000 million pesos at a term of 7 years with a fixed interest rate of 9.58%, identified as COMPART 25-4S.
The total demand for these emissions reached 11,765 million pesos.
Biva’s Perspective on the Emission
María Ariza, the general director of Biva, highlighted the importance of creating financial instruments with social impact. She pointed out that Compartamos’ emission demonstrates the strong appetite in both national and international markets for such offerings.
“The emissions by the financiera have been a reference to attract institutional international capital. There is trust and better communication with investors, which has increased the appetite,” said Ariza.
Key Questions and Answers
- What is Banco Compartamos? Banco Compartamos is a subsidiary of Gentera, focusing on providing financial services to micro, small, and medium-sized enterprises (mipymes) in underserved communities.
- Why did Banco Compartamos issue bonds? The bank issued bonds to continuously fund its primary asset, the credit portfolio, ensuring stability and long-term funding certainty.
- How much was raised through the bond issuance? Banco Compartamos raised a total of 5,000 million pesos through the issuance.
- What were the terms of the bond issuance? The bonds were issued in two tranches: 3,000 million pesos for 3.5 years at TIIE Fondeo +84 basis points and 2,000 million pesos for 7 years at a fixed rate of 9.58%.
- What does María Ariza, Biva’s director, say about the emission? María Ariza highlighted the importance of social impact financial instruments and noted that Compartamos’ emission demonstrates strong demand in national and international markets for such offerings.
