CFE Preps MXP Bond

Mexico’s Comision Federal de Electricidad (CFE) plans to raise up to MXP10bn ($776m) in a two-tranche domestic bond sale November 10. The proposed 5-year notes would pay a spread to the TIIE and 10-year notes a fixed-rate. The issuance falls under a MXP100bn program, for which Banorte-Ixe, BBVA Bancomer, Santander and HSBC have been hired. The government electricity monopoly’s most recent domestic bond was in June, when the issuer, rated AAA on a national scale, priced a MXP12bn ($911m) floating rate note via Banorte-Ixe, HSBC and Santander. CFE’s last foray into the international markets was a $750m 30-year bond done last year.