The Firm represented BofA Merrill Lynch, Deutsche Bank Securities and Goldman, Sachs & Co., as initial purchasers, in connection with an offering of U.S.$1 billion of 4.875% Notes due 2021 issued 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 and constituted CFE’s inaugural securities offering in the broader international capital markets.

 

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 March 31, 2011, CFE provided electricity to 34.2 million customer accounts, which represents 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).