The Firm represented BBVA Securities Inc., Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as initial purchasers, in connection with an offering of US$1 billion of 4.75% Notes due 2027 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.
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 June 30, 2016, CFE provided electricity to 40.2 million customer accounts, which represented an estimated 98.6% of the Mexican population.
The Simpson Thacher team for the debt offering and the private placement included, among others, Juan Francisco Méndez, Kirsten L. Davis and Adriana Perez Cavazos (Capital Markets); and Jonathan Cantor and Sophie Staples (Tax).