BBVA México successfully completed an international market placement for US$600 million, for a five-year term and at a fixed rate of 5.25%. The transaction was very well received by the market, reaching an excess demand of 6.4 times, with the diversified participation of institutional investors.
BBVA Mexico is launching a Corporate and Government Banking team in Houston, Texas, a region in the United States that stands out for its industrial diversity focused on the aerospace, manufacturing, energy, biotechnology, digital technology, and logistics and transportation sectors. The new headquarters will offer Investment advice, financial tools and access to the supply chain of the financial institution that has around one million business clients in Mexico.
Victor Rojas Fernandez, director of this team of the Corporate and Government Banking based in Houston, highlighted that “the strategy contemplates attracting about 65 foreign companies in the first year of functions.” The executive led the financial institution’s Automotive Banking for five years, taking it to first place in market share among banks operating in the country.
“The intention is to go to the entrepreneurs who seek to operate in Mexico at their place of origin, anticipate their needs and not wait for them to arrive in the country. This will allow us to provide them with advice, support them with their procedures and requirements necessary for their operationwhich makes it quite easy for them to enter the country,” he said.
Great exchange of goods and services
The report BBVA Mexico Regional Sector Situation points out that Texas stands out for being the entity of the American Union with increased imports from Mexico, reaching 142.7 billion dollars in 2023. Mexico registers a Greater trade in goods and services per year with Texas than with Asiamaking that region a very important commercial attraction.
Himself analysis points out that from the US perspective, annual imports of goods from Mexico in 2023 reached $475.6 billion, with manufacturing accounting for 88.7% of the total. Demand for Mexican goods shows a geographic pattern linked to US industrial regions among which Houston is the leader.
Data from the Federal Reserve Economic Data (FRED) in St. Louis reveal that this entity in the United States has consolidated itself as one of the fastest growing in its Gross Domestic Product (GDP), which has grown 30% since 2010. Texas alone would be the eighth largest economy in the world and is the main exporting state in the US according to the government office of that entity.
The factors mentioned above confirm the decision made by the banking institution to establish its new headquarters in Houston for the relocation of companies seeking to invest in Mexico, including Business and Government Banking, Corporate and Investment Banking, as well as SMEs.
With this new unit, BBVA Mexico reaffirms the Commitment to boost foreign investment and facilitate economic growth both in Mexico and the United States, leveraging the nearshoring phenomenon.
