CFE returns with 12-year notes

CFE returns with 12-year notes

Capital Markets Bonds Credit Ratings Energy Electricity Mexico

Mexico's state-owned electric utility company CFE issued $850 million in new 12-year bonds on Tuesday, raising money to refinance debt as orders reached $1.6 billion, said a source involved in the deal. The company priced the new 2033 bonds at par to yield 3.875%, or 264.8 basis points over US Treasury bonds, the source said. CFE opened the deal with the initial price talk in the high-200 basis points over US Treasury bonds before setting guidance at 4%, plus or minus 12.5 points, and launching

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