Iberdrola Preps MXP3.5bn Debt

Iberdrola Finanzas, a unit of Spanish Utility Iberdrola, plans to launch this week a roadshow supporting the issue of up to MXP3.5bn in bonds. Iberdrola, which has a strong track record for developing power generation facilities in Mexico, is aiming for up to MXP1.5bn in 2018 fixed-rate bonds denominated in pesos or the UDI inflation-linked unit, and up to MXP2bn in floaters at a shorter tenor. Banamex and BBVA are managing the sale, expected to occur by the end of the month.