CFE Readies International Meetings

Mexico’s Comision Federal de Electricidad (CFE) will meet fixed-income investors in the US at the end of this month, just 6 months after it last came to the international markets. The Baa1/BBB/BBB rated borrower will see accounts beginning November 30 in Los Angeles and Boston before wrapping up in Chicago and New York on Thursday, December 1. CFE last came to the dollar market in May when it issued a $1bn 2021 that was priced with 4.875% coupon to yield 4.976% via Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs. Those bonds were trading around 102.85-103.10 or 4.50%-4.47% last week. On this occasion, BBVA, BNP Paribas and Citigroup are taking the government-owned electricity company on the road.