CFE Gives Fixed-Rate Guidance

Mexico’s Comision Federal de Electricidad (CFE) is out with price talk of MBonos+125bp-135bp for the retap of its fixed rate 2020 bonds, according to market participants. The state-owned electricity provider is reopening for the second time a domestic floating rate 2014 and fixed-rate 2020 bonds, with pricing expected Wednesday. Price talk of TIIE +20-25bp emerged earlier in the week for the floating-rate portion. The total size of the transaction will be up to MXP7bn ($528m). CFE is raising the funds for general corporate purposes. Banamex, and BBVA Bancomer and ING are managing the sale, rated AAA on a national scale.