Iberdrola Delays MXP Jumbo

The international finance arm of Spanish utility Iberdrola has postponed bond deal originally expected to price yesterday. The company now hopes to raise MXP5bn in peso-denominated bonds next week, say a banker on the deal. The foreign issuer is still sorting through regulatory issues, adds the banker. Iberdrola has filed to issue up to MXP3bn in 2013 floating-rate bonds and up to 2bn in 2018 fixed-rate bonds, rated AAA on a national scale. Banamex and BBVA are managing the sale. Although going has been rough in the dollar DCM markets, the Mexican market has in the past week seen homebuilder Sare price MXP462m in 2013s, component maker Xignux place MXP1.5bn in 2015s, and Grupo Posadas reopen MXP750m of its 2013 notes.