Simpson Thacher Represents Managers and Structuring Agent in Comisión Federal de Electricidad’s US$615 Million Formosa Bond Offering
07.31.19
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The Firm represented HSBC Bank (Taiwan) Limited, Morgan Stanley Taiwan Limited and E Taishin International Bank Co., Ltd., as managers, in connection with an offering of US$615 million of 5% Notes due 2049 by Comisión Federal de Electricidad (Federal Electricity Commission) of Mexico, which is known as CFE. The Notes are listed on the Taipei Exchange in the Republic of China (Taiwan) and are expected to be admitted to the Official List of the Luxembourg Stock Exchange and to trading on the Euro MTF Market. The Firm also represented J.P. Morgan Securities LLC, as structuring agent for the offering. The offering was conducted in reliance upon Regulation S under the U.S. Securities Act of 1933, as amended.
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, Kirsten L. Davis, Karen McClendon and Miluska Gutierrez Vega (Capital Markets); and Jonathan Cantor and Edward Grais (Tax).