CFE Wants Domestic Bond This Week

Mexico’s Comision Federal de Electricidad (CFE) plans to raise up to MXP10bn ($766m) in a two-tranche domestic bond sale, now set for Wednesday, instead of next week, according to people following the sale. The proposed 5-year notes would pay a spread to the TIIE and additional 10-year notes a fixed-rate. The issuance falls under a MXP100bn program, and is to be managed by Banorte-Ixe, BBVA Bancomer, Santander and HSBC. The government electricity monopoly’s most recent domestic bond was in June, when the issuer priced a MXP12bn ($911m) floating rate note via Banorte-Ixe, HSBC and Santander. CFE is rated AAA on a national scale.