Savings Protection Bonds are debt instruments issued by IPAB, through the Central Bank, which acts as its financial agent and are divided into three modes: BPAS, BPAT, and BPA182.
BPAs:
Savings Protection Bonds with monthly interest payments at a 3-year term, referenced to the annual rate of yield on 28-day Cetes in primary placement or the rate that substitutes it for non-banking days, identified on the debt market by the acronym "BPAs". The first issue of this instrument was made on March 2, 2000.
For more information, consult:
BPAT:
Savings Protection Bonds with quarterly interest payments at a 5-year term, referenced to the rate of yield on 91-day Cetes in primary placement, or the rate that may substitute it for non-banking days, identified on the debt market with the acronym "BPAT".The first issue of this instrument was made on July 4, 2002.
For more information, consult:
BPA182:
Savings Protection Bonds with semiannual interest payments and protection against inflation at a term of 7 years, referenced to the rate of yield on 182-day Cetes in primary placement, and the percentage change in the value of investment units, identified on the debt market with the acronym "BPA182".The first issue of this instrument was made on April 29, 2004.
For more information, consult:
Summary of Auctions of Savings Protection Bonds
Calendar of Auctions of Savings Protection Bonds (spanish)
Before the start of each quarter, IPAB informs the investing public of the dates on which it intends to conduct primary auctions of Savings Protection Bonds for the coming quarter, indicating the series and values of the issues to be auctioned.
Call for Auction
On the last business day of each week, IPAB updates and posts on its website the particular characteristics of the Savings Protection Bonds it intends to auction and place for the following week, to provide the investing public with the information necessary to take part in the corresponding primary auction.
Demand for Savings Protection Bonds
Shows the historical level of demand among investors participating in primary auctions for each type of Savings Protection Bonds (BPA, BPAT, BPA182), in relation to the auctioned values IPAB indicated in the call.
Historical Auctions of Savings Protection Bonds
BPA Repurchases
As part of IPAB’s proactive liability management strategy, two auctions for purchase of BPAs have been held.
-
The first was held on
December 15, 2004.The value acquired was 11.964 billion Pesos, from an offering of 10 billion Pesos with an optional additional amount of 4 billion Pesos.
-
The second auction was held on
December 14, de 2005.The amount acquired was 10 billion Pesos, from a total offering of 14.793 billion Pesos.
With these auctions, IPAB succeeded in:
- Reducing maturities of obligations in the second half of 2005 and 2006.
- Raising the liquidity of the secondary market for BPAs.
- Substituting shorter term issues with other, longer term issues.
The success of these auctions is a sign of the growth the market for instruments issued by IPAB, has achieved, which translates into a lower relative financial cost for IPAB as a debt issuer.
Auction Result
Results of BPA purchases, 2004:
Result of BPA purchases, 2005:
Contacts
Inquiries regarding any information related to Savings Protection Bonds may be directed to the following persons:
|
Lic. María Isabel García Guadarrama |
| |
Adjunt Director General for Financial Planning
migarcia@ipab.org.mx
5209-5726 |
