CFE refinances loans

CFE refinances loans

Loans Project & Infrastructure Finance Debt Corporate & Sovereign Strategy Economy & Policy Energy Electricity Gas Mexico

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

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