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.

Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated as representative of J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., Banco Bilbao Vizcaya Argentaria, S.A. and Morgan Stanley & Co. Incorporated, the placement agents, in connection with a private placement of 6.125% Senior Notes due 2021 by Kansas City Southern de México, S.A. de C.V. (KCSM) pursuant to Rule 144A and Regulation S.