CFE Readies Local Bond

CFE Readies Local Bond

Mexico Bonds

Mexico's Comision Federal de Electricidad (CFE) is planning to sell domestic bond of up to MXP1.66bn ($129m) Tuesday, according to a person familiar with the terms. The 4-year bond is issued through the Fideicomiso de Administracion de Gastos Previos (FAGP) trust and will pay a floating rate. BBVA is sole lead on the transaction, rated AAA on a national scale. The previous FAGP sale was a 3-year bond done last year at TIIE+35bp through Scotia. The state-owned utility uses the Bancomext-guarantee

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