Mexican Blue Chips Close in on Large Domestic Sales

Mexico’s Grupo Televisa and Comision Federal de Electricidad (CFE) are each considering pricing a domestic bond sale as soon as this week, according to people following the transactions. Televisa is planning to raise up to MXP10bn ($766m) in the domestic bond market this week, say bankers familiar with the process. The broadcaster is considering 10-year and 15-year notes. Proceeds will be used to refinance debt and for general corporate purposes. Banamex, BBVA Bancomer and Santander are managing the sale, rated AAA on a domestic scale. Separately, CFE is said to have decided against pricing today, but could still do a deal as soon as Thursday or Friday. The government utility is planning to raise up to MXP10bn ($766m) in 5-year floating-rate notes and 10-year fixed-rate notes. Banorte-Ixe, BBVA Bancomer, Santander and HSBC are managing the sale, rated AAA on a domestic scale.