This Fovissste issuance is part of the 20,000 million pesos financing program approved by the agency for 2021

In order to start with the granting of credit for the 2022 program, the Issste Housing Fund (Fovissste) returned to the stock market, placing 10 billion pesos in Trust Stock Certificates (CBF).

The operation was carried out this October 13, one day before starting with the registration of credit applications for the 2022 Scoring System. The resources obtained will be used to finance up to 13,600 mortgage loans.

The issue, with the ticker symbol “TFOVICB 21 U”, was agreed in UDIs for a 12-year term and with a rate of 3.16%. This operation is part of the 2021 financing program, approved for 20 billion pesos.

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"With the operation, in addition to confirming its financial strength, it guarantees the granting of new mortgage loans for the benefit of workers at the service of the State," said Fovissste.

According to Fovissste, this is the first issue made by the organization in 2021. However, it is the fifth made since Agustín Rodríguez took over the Executive Board of the Fund.

With the operation, the agency issued certificates for more than 1,439 million UDIs, which is equivalent to 9,999 million pesos. The demand was 22 thousand 831 million pesos, that is, 2.28 times what was made available.

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The last placement carried out by the agency was in July 2020, where it placed 6 billion pesos with the intention of granting up to 8 thousand mortgages.

At least since 2017, Fovissste has turned to the stock market at least once a year to seek funding. Thus, for example, in 2017, even with the previous administration, the agency placed 6.8 million pesos.

Thus, in 2018, Fovissste went to the market and raised 12 billion pesos.

At present, the Fovissste administration returned to the debt market in August 2019. On this occasion, it placed 10 billion pesos to finance up to 10,000 financing.

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Original note