CFE issues new benchmark bond

CFE issues new benchmark bond

Mexico

Mexico's CFE sold a new $1bn cross-border bond on the low end of pricing guidance, after investors rushed to be part of the private placement.The bookrunners BBVA, Bank of America-Merrill Lynch and Citi priced the 2027 bond at 99.876 with a 4.75% coupon to yield 4.766%, or 300bp over US Treasuries. Orders for the Rule 144A/Reg S issue reached $5.5bn, a debt capital markets banker said.Initial price talk started at 337.5bp over US Treasuries, but investor interest brought the spread down to 312.5

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