UPDATE 1-Mexico's IEnova plans October share offering of over $1 bln -sources

lunes 12 de septiembre de 2016 14:51 GYT

(Adds details, context surrounding offering)

By Christine Murray and Alexandra Alper

MEXICO CITY, Sept 12 (Reuters) - Mexico's Infraestructura Energetica Nova (IEnova) aims to raise more than $1 billion in a secondary share offering in October, three people with knowledge of the matter said, in what would be one of the biggest Mexican equity placements in recent years.

A unit of U.S. firm Sempra Energy, IEnova has hired Credit Suisse and JP Morgan to underwrite the offer that will help it fund major investments, according to two of the people, who declined to be named as the offering is not yet public.

A spokeswoman for IEnova declined to comment. Credit Suisse and JP Morgan also declined to comment.

IEnova is in the vanguard of Mexican companies that have pushed into the oil and gas industry since state oil firm Pemex lost its monopoly under a 2013 energy reform.

Since then, falling crude prices and budgetary constraints have forced Pemex to sell off assets. Last year, IEnova agreed to buy out the 50 percent stake owned by Pemex in pipeline company Gasoductos de Chihuahua for more than $1 billion.

That deal has now been restructured to satisfy regulators and should be completed in the third quarter, IEnova, which went public in 2013, said in a recent filing.

The company has won other big contracts such as a joint effort with TransCanada Corp to build and operate a natural gas pipeline from South Texas to Tuxpan in Mexico.   Continuación...