CFE Refreshes Curve

CFE Refreshes Curve

Mexico Bonds

Mexico’s Comision Federal de Electricidad (CFE) took advantage of improving sentiment following the end of the US shutdown, to raise $1.25bn in new bonds. The government electricity monopoly drew $7.7bn in orders for the 2024, according to people following the sale. Starting wide at UST plus mid-260s talk, CFE slashed guidance to 240bp (+/minus 5bp) before launching at 235bp. The Baa1/BBB/BBB+ bond priced at 99.427 with a 4.875% coupon to yield 4.948%. “Price talk started cheap offering around 4

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