The results speak for themselves. A $6.5 billion book and the lowest yield ever for a Mexican public entity tapping 10-year international money makes Comisión Federal de Electricidad’s $1 billion 4.875% 2021 bond a clear winner.
The 100% government-owned electricity company tapped into investors’ need for some diversification in Mexico’s quasi-sovereign space, and succeeded in planting its flag firmly among international accounts to prepare the way for what is expected to be a 30-year.
“They are the second largest issuer in the local market, so it made a lot of sense for them to diversify...
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