Simpson Thacher Represents Placement Facilitation Agents in Placement of Cebures by Comisión Federal de Electricidad
08.02.17
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The Firm represented BBVA Securities Inc. and Banco Santander, S.A., as placement facilitation agents, in connection with the placement of Ps.4,828,250,000 of 8.18% Certificados Bursátiles due 2027 (International Cebures) issued by CFE. The International Cebures are denominated and payable only in Mexican pesos and formed a portion of a larger offering by CFE of Cebures to the public in Mexico, which was registered with the Comisión Nacional Bancaria y de Valores (the Mexican SEC). The International Cebures are listed on the Mexican Stock Exchange and settled through the Mexican clearing agency known as Indeval, but were delivered to international investors through accounts of Euroclear and Clearstream in Indeval.
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 December 31, 2016, CFE provided electricity to 40.8 million customer accounts, which represented an estimated 98.6% of the Mexican population.
The Simpson Thacher team included, among others, Juan Francisco Méndez and Kirsten L. Davis (Capital Markets); and Jonathan Cantor and Sophie Staples (Tax). Summer Associate Ernesto Sanz also provided invaluable assistance.