CFE Bags Japanese Credit Line

Mexico’s state-owned Comision Federal de Electricidad (CFE) has obtained $273m in a 10-year credit line from Tokyo Mitsubishi, Sumitomo and JBIC, Japan’s export-import bank. CFE says it will also issue $338m in MXP-denominated certificados bursatiles in a few days. The $611m in funds will be used to pay for the CCE Pacifico coal-fired plant, which will have a generating capacity of 650MW. Mitsubishi is developing the CCE Pacifico project, which is set to be completed this year.