February 8, 2018 / 2:49 AM / a year ago

UPDATE 1-Mexico state electricity company draws over $870 mln in offering

(Adds details on Fibra E)

MEXICO CITY, Feb 7 (Reuters) - Mexico’s state-run power utility said on Wednesday that it had collected 16.388 billion pesos ($873 million), including an option for oversubscription, through a specialized investment trust known as Fibra E.

The Federal Electricity Commission (CFE) said the offering saw a demand of more than 25 billion pesos, but it did not disclose the price of the rights, which had been estimated at a range between 19 and 22 pesos per unit.

Institutional investors, private banks and investment funds from Mexico, the United States, Canada, Australia and Europe participated in the bidding, the company said.

Fibra E, an energy and infrastructure investment trust, was launched in September 2015 to attract investors, particularly private and foreign capital, to the sector.

“Through this innovative financial instrument, the CFE will have an additional and recurring source of resources to fulfill its commitment to developing national electricity infrastructure,” the company said in a statement.

($1= 18.7695 pesos)

Reporting by Noe Torres; Writing by Julia Love; Editing by Sandra Maler

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