With the aim of replacing liabilities, but without affecting leverage ratios, TRAXION issued unsecured stock certificates in the local market for an amount of two billion pesos (mdp), at a variable rate, and in two tranches .
Through a statement to its investors, it was reported that the first TRAXION 26 issuance is for one billion pesos with a term of six years , with a funding rate of TIIE – Interbank Equilibrium Interest – plus 195 basis points.
The second certificates, TRAXION 26-2, are also for an amount of one billion pesos, with a term of seven years , and with a funding rate of TIIE plus 200 basis points.
Based on TRAXION’s statement, the issuance was made under a program for up to 10 billion pesos authorized by the National Banking and Securities Commission (CNBV) , has a rating of A+ (mex) from Fitch Ratings , AA from HR Ratings , AA/M from Verum , and was listed on the Institutional Stock Exchange (BIVA) .
“This is our second debt issuance in the local market, in line with our commitment to always seek the optimal financing options, and it reflects the Mexican market’s confidence in our business model. With this transaction, our debt profile improves considerably and our balance sheet is strengthened to continue creating long-term sustainable value for all our stakeholders,” commented Aby Lijtszain, CEO and co-founder of TRAXION.
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