Bladex (NYSE: BLX) completed a MXN 4,265 million debt issuance in Mexico's public debt market, the company announced in a press release statement.

The three-year notes carry a floating interest rate tied to Mexico's one-business-day Interbank Equilibrium Interest Rate plus a spread of 60 basis points. The transaction attracted demand that exceeded the target size from asset managers, pension funds and financial institutions.

The issuance received local credit ratings of "mxAAA" from S&P Global Ratings, S.A. de C.V. and "AAA (mex)" from Fitch México, S.A. de C.V.

Casa de Bolsa BBVA México, S.A. de C.V., Grupo Financiero BBVA México, and Casa de Bolsa Santander, S.A. de C.V., Grupo Financiero Santander México served as placement agents.

Bladex plans to use the proceeds to finance initiatives in Mexico and other Latin American and Caribbean markets, according to Chief Executive Officer Jorge Salas.

The Panama-based multinational bank was established in 1979 by central banks across Latin America and the Caribbean to promote trade finance and regional economic integration. The institution maintains operations in Argentina, Brazil, Colombia, Mexico and the United States.

Bladex has traded on the New York Stock Exchange since 1992 and has been listed on the Mexican Stock Exchange for more than a decade. Its shareholders include central banks, government entities, Latin American banks and institutional investors.