CFE Raises Nearly MX$1 Billion in Short-Term Debt Market Return

Mexico’s state-owned utility CFE raised nearly MX$1 billion through a series of short-term debt auctions held on July 16, well below the MX$3 billion previously authorized. The offerings, conducted via the Mexican Stock Exchange (BMV), aim to strengthen the company’s liquidity and support ongoing operations.

The debt issuance was divided into three tranches with different maturities. The largest, a 28-day note (Certificado Bursátil 137), brought in MX$888.2 million in gross proceeds. Meanwhile, the 84-day (Certificado 138) and 166-day (Certificado 139) tranches raised MX$56.8 million and MX$46 million, respectively. In total, CFE secured approximately MX$991 million after fees.

Documents from the BMV indicate strong investor demand across all three tranches, despite the utility opting to raise significantly less than the maximum approved amount. The auction marks CFE’s return to short-term markets as it faces seasonal demand peaks and invests in grid reliability and capacity.

The debt was issued under CFE’s revolving short-term program, which allows for flexible fundraising up to MX$25 billion. It is the utility’s second short-term placement of the year, following a similar MX$1 billion issuance earlier in 2025.