CFE to spend cash in bond buyback

CFE to spend cash in bond buyback

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Mexico

Mexico’s state-owned electric utility company CFE will use cash on hand to buy back as much as $1 billion worth of bonds that mature between 2024 and 2051, a company source told LatinFinance. CFE is looking to repurchase up to $500 million in 4.875% 2024 bonds and another $500 million in five series of notes that mature from 2027 to 2051, the company said in a press release on Thursday. The company added it will pay bondholders a price "in accordance with standard market practice" for every $1,0

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