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The Firm represented BBVA, BNP PARIBAS and Citigroup, as initial purchasers, in connection with an offering of U.S.$750 million of 5.750% Notes due 2042 by Comisión Federal de Electricidad (Federal Electricity Commission) of Mexico, which is known as CFE.  The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933.  According to press reports, the offering achieved the lowest-ever interest rate for a 30-year debt security issued by a Mexican governmental or government-related issuer.

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.  As of September 30, 2011, CFE provided electricity to 35.2 million customer accounts, which represented an estimated 97.8% of the Mexican population.

The Simpson Thacher team for the debt offering included, among others, Glenn M. Reiter, Kirsten L. Davis and Diego Nogueira (Capital Markets), and Jonathan Cantor and Danny Salinas (Tax).