CFE to Bring Local Bond

Mexico’s CFE is planning to sell a 10-year local issue for up to MXP5bn, CFO Francisco Santoyo tells LatinFinance. A deal is likely within the next 60 days. The utility follows fellow state-owned issuer Pemex, which sold MXP15bn in fixed and floating-rate notes at the beginning of the month, in attempting to reopen local markets. CFE is rated AAA on a national scale. Its last issue was in August, raising MXP1.47bn in MXP-denominated 2019 bonds at a fixed 8.85%, and MXP1.95bn-equivalent in UDI-denominated 2019s at 4.60%, through Bancomer and Banamex.