Fisterra sells bonds to refinance power plant

Fisterra sells bonds to refinance power plant

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Mexico

Tierra Mojada, a division of Mexican energy company Fisterra Energy, sold $953 million worth of 20-year bonds in the international market to refinance debt, increasing the size of the deal from $920 million to meet demand, said a source involved in the transaction. Tierra Mojada, which operates a 875 MW power plant in Guadalajara, priced the 2040 notes at par to yield 5.75%, the source said. The issuer opened the deal with initial price talk in the low 6% area before it set guidance at 5.875%, p

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