The National Bank of Public Works and Services (Banobras) seeks to improve the profile of its stock market debt and it is an issue that the next administration of the development bank will have to work on, said Jorge Mendoza Sánchez.
The general director of the development bank commented that it is necessary to extend the terms of the debt issued by the institution in the stock markets.
“I think it is an area of opportunity and we still fund a lot from one day to one year, and what we have tried to do is reduce our short-term financing needs and move them to the medium and long term,” he commented in a recent interview.
The development bank plans to place in the financial markets during this year bonds for 20,000 million pesos, of which it already offered 10,000 million pesos last month at terms of two, four and seven years at variable rates.
Jorge Mendoza explained that in addition to being promoters of green bonds, with a gender perspective, the changes could not be instantaneous because this operation would have an impact on the financial statements and the market would not be prepared to receive long-term bonds in a short time. anus.
The recent Banobras issuance had a demand of twice the amount placed and 47 investors participated in it despite the difficult market environment.
Jorge Mendoza said that the current interest rate level makes many projects profitable and the bank is funded at a variable rate, making it attractive to everyone.
“Most of our funding is at a variable rate and our loans at a variable rate, so we do not see a rate risk for us, of course, surely this level of rates continues to increase, which I think should not be much anymore, since it could put a barrier for investment, so far we still see a lot of appetite for financing from Banobras”, highlighted the public official.
challenges
Jorge Mendoza, head of the development institution, recognized that it is a challenge for the bank to continue qualifying for the coming years portfolio and sustainable projects that help the environment or help reduce the poverty gap in the country or support the development of the women.
In the placement of the bonds in the local market, Banobras highlighted that the financing had a gender perspective, in the health, education and mobility infrastructure.
