September 26, 2019 |
Mexico's state-owned utility company, CFE, said it has refinanced MXN8.81bn ($450m) in loans from its Pidiregas financing program, cutting costs by almost MXN3.8bn over the next three years.
BBVA led a syndicated loan with four other lenders, Scotiabank, Citibanamex, Mizuho and HSBC, the CFE said in a statement. The seven-year loan pays 95bp over the 28-day TIIE and comes with a delayed amortization structure and an average life of five years, it added.
The CFE also said it will use the money it
Mexico's state-owned utility company saves $194m with a new syndicated loan led by BBVA