CFE Sells Domestic Bond

Mexico’s CFE has sold MXP500m in floating-rate bonds on the domestic market. The deal follows a much larger MXP5bn fundraising in March, and takes advantage of a special bond program for infrastructure spending. The 2013 bonds pay TIIE plus 51bp. Proceeds from the AAA transaction will used to pre-fund specific expenses for certain kinds of infrastructure projects known as productive infrastructure with deferred expenditure impact, through a fideicomiso jointly set up with Bancomext. Ixe managed the sale.