Introduction to FIRA and its Mandate
The Fideicomisos Instituidos en Relación con la Agricultura (FIRA) is a Mexican institution dedicated to supporting the agricultural sector. Established in 1994, FIRA aims to provide financing and guarantees for agricultural projects, fostering growth and development in Mexico’s agroindustrial sector.
Actinver Joins FIRA’s Financial Network
On July 15, FIRA announced the inclusion of Banco Actinver as an intermediary in its financial network. This addition brings the total number of participating banks to 26, all offering agricultural financing with guarantees.
The Role of Actinver
Actinver, a Mexican investment bank with expertise in foreign exchange and capital markets, will now serve as an intermediary for FIRA. Actinver’s deep understanding of the agricultural sector and foreign exchange market will facilitate access to specialized financial services for agroindustrial companies requiring such support.
Impact on the Agroindustrial Sector
This collaboration will benefit Mexican agroindustrial companies by providing them with tailored financial services. As the world’s second-largest agricultural exporter, Mexico’s agroindustrial sector will see improved access to capital and specialized financial support.
Benefits for Actinver
By joining FIRA’s network, Actinver gains access to new business opportunities and the ability to leverage FIRA’s distribution network in states where it has no physical presence. This partnership will help Actinver expand its reach and strengthen its position in the agricultural financing market.
FIRA’s Recent Debt Emission
In addition to the Actinver partnership, FIRA recently issued three short-term bonds, demonstrating its commitment to supporting the agricultural sector through financial instruments.
Bond Details
FIRA successfully placed bonds with maturities of 1.5, 3.5, and 5 years, two of which are social impact bonds. The 3.5-year and 5-year bonds raised 3,026 million pesos at interest rates of TIIE + 33 basis points and TIIE + 40 basis points, respectively.
Furthermore, a 1.5-year bond worth 3,578 million pesos was issued at a premium of TIIE + 30 basis points. In total, FIRA raised 7,774 million pesos, with demand reaching 10,329 million pesos—1.3 times the amount issued.
Key Questions and Answers
- What is FIRA and its purpose? FIRA is a Mexican institution established in 1994 to support the agricultural sector by providing financing and guarantees for agricultural projects.
- Why did FIRA choose Actinver as an intermediary? Actinver’s expertise in foreign exchange and capital markets, along with its deep understanding of the agricultural sector, makes it an ideal partner for FIRA.
- How will this partnership benefit the agroindustrial sector in Mexico? This collaboration will provide Mexican agroindustrial companies with specialized financial services, fostering growth and development in the sector.
- What were the details of FIRA’s recent bond issuance? FIRA issued three short-term bonds with maturities of 1.5, 3.5, and 5 years. The 3.5-year and 5-year bonds raised 3,026 million pesos at interest rates of TIIE + 33 basis points and TIIE + 40 basis points, respectively. A 1.5-year bond worth 3,578 million pesos was issued at a premium of TIIE + 30 basis points, raising a total of 7,774 million pesos.
