CFE Sets Domestic Timing

Mexican power company CFE is planning to issue up to MXP12bn ($899m) on September 19. The 30-year fixed transaction has a 15-year average life, according to selling memo. The state-owned utility could issue a maximum amount of up to MXP17bn, which falls under a MXP50bn program. The proceeds will be used to finance expenses related to the La Yesca hydroelectric power project. Banamex, BBVA Bancomer and Santander are managing the transaction, rated AAA.