Comisión Federal de Electricidad’s $850 Million Notes Offering

Simpson Thacher and Galicia advised Initial Purchasers on the deal, while Cleary Gottlieb and Creel, García-Cuéllar, Aiza y Enríquez represented Comisión Federal de Electricidad.

Comisión Federal de Electricidad (“CFE”) executed the offering of US$850 million in aggregate principal amount of its 3.875% Notes due 2033.

The Notes were offered and sold in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended, and will be listed on the Official List of the Luxembourg Stock Exchange and to trading on the Euro MTF Market.

BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., BBVA Securities Inc. and Santander Investment Securities Inc., among others, acted as initial purchasers for the offering.

CFE is the national electricity company of Mexico and is 100% owned by the Mexican government. CFE has the exclusive right to transmit and distribute electricity in Mexico, and it generates most of the electricity consumed in Mexico.

The Simpson Thacher team included Juan Francisco Méndez (Picture), Kirsten L. Davis, Enrique Guijosa and Francisco Ducci (Capital Markets); and Michael Mann and Gurnaina Chawla (Tax).

In Mexico, Galicia Abogados advised the CFE with Guillermo Pérez Santiago, Francisco Fernández Cueto, José Alejandro Cortés Serrano, Jorge Javier Mendizábal Hori, Luis Manuel Rosendo and Clarisa Jiménez.

The Cleary corporate team included partner Jorge Juantorena, associates Stephanie Monroe Rohlfs and Miguel Alvarez Malvido, and law clerk Belén Pironi. Partner Jason Factor and associate Samuel Kramer advised on U.S. tax matters. Senior attorney Marc Rotter advised on Investment Company Act matters.

In Mexico, Creel, García-Cuéllar, Aiza y Enríquez advised the initial purchasers with Eduardo Flores Herrera, José Ignacio Segura, Jorge Correa Cervera, Luis Salomón Llinás, Diego Ernesto Aznar Gándara, Valentina Pliego, Diego Ramos Sánchez and Ivonne Montaño Sanluis.

Involved fees earner: Miguel Alvarez Malvido – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Samuel Kramer – Cleary Gottlieb Steen & Hamilton; Stephanie Monroe Rohlfs – Cleary Gottlieb Steen & Hamilton; Marc Rotter – Cleary Gottlieb Steen & Hamilton; Diego Aznar Gándara – Creel, García-Cuéllar, Aiza y Enriquez SC; Jorge Correa Cervera – Creel, García-Cuéllar, Aiza y Enriquez SC; Eduardo Flores – Creel, García-Cuéllar, Aiza y Enriquez SC; Ivonne Montaño – Creel, García-Cuéllar, Aiza y Enriquez SC; Diego Ramos Sánchez – Creel, García-Cuéllar, Aiza y Enriquez SC; Luis Salomón Llinás – Creel, García-Cuéllar, Aiza y Enriquez SC; José Ignacio Segura Alonso – Creel, García-Cuéllar, Aiza y Enriquez SC; José Alejandro Cortés Serrano – Galicia Abogados, S.C; Francisco Fernández Cueto – Galicia Abogados, S.C; Clarisa Jiménez – Galicia Abogados, S.C; Jorge Javier Mendizábal Hori – Galicia Abogados, S.C; Guillermo Pérez Santiago – Galicia Abogados, S.C; Luis Manuel Rosendo Reneda – Galicia Abogados, S.C; Gurnaina Chawla – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Enrique Güijosa Rincón – Simpson Thacher & Bartlett; Michael Mann – Simpson Thacher & Bartlett; Juan Francisco Mendez – Simpson Thacher & Bartlett;

Law Firms: Cleary Gottlieb Steen & Hamilton; Creel, García-Cuéllar, Aiza y Enriquez SC; Galicia Abogados, S.C; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Barclays Capital ; BBVA Securities Inc.; BNP Paribas Securities; Citigroup Global Markets Ltd; Comisión Federal de Electricidad (Mexico); Santander Investment Securities Inc.;

Author: Martina Bellini