CFE Keeps it Short for FRN Jumbo

CFE Keeps it Short for FRN Jumbo

Mexico Bonds

Mexico’s Comision Federal de Electricidad (CFE) priced a MXP12bn ($911m) floating rate note Wednesday, opting for a defensive, shorter duration over a longer-term fixed-rate bond. The state-owned utility had planned to price a dual tranche, 5-year floater and a 10-year fixed-rate bond. After receiving MXP12.7bn in demand from the local buyside, CFE priced a MXP12bn 5-year floating rate bond at TIIE+15bp. Afores, mutual funds, and private banks were among the 40 accounts that were allocated the b

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