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Esentia Files for MexicoU.S. IPO on BMV With October Book-Build Target

Proceeds are slated to fund a three‑phase, $680 million expansion of the Wahalajara gas network backed by long‑term, dollar‑denominated contracts.

Overview

  • The offering combines primary shares to raise capital with secondary sales by existing holders, with pricing to be set via book‑building in October.
  • BBVA, Goldman Sachs and Scotiabank are global coordinators for simultaneous tranches in Mexico, the United States and other international markets.
  • Deal terms include a 15% overallotment option and an additional placement of up to 20% above the base, and the ticker is indicated as ESENTIA in filings.
  • Primary proceeds will support capacity additions of about 660 million cubic feet per day, debt repayment and general corporate purposes.
  • Esentia highlights about $8 billion in contracted revenue tied largely to take‑or‑pay agreements, while risk factors include regulatory exposure, customer concentration around CFE, leverage of roughly $2.148 billion and execution of the expansion plan.