Comisión Federal de Electricidad in $1 Billion Debut Note Offering

May 26, 2011

Cleary Gottlieb represented Comisión Federal de Electricidad (“CFE”), Mexico’s government-owned electric utility, on its debut Rule 144A/Regulation S offering of $1 billion aggregate principal amount of senior notes. The offering priced on May 19, closed on May 26 and was underwritten by BofA Merrill Lynch, Deutsche Bank and Goldman Sachs.

CFE generates over 90% of the electricity consumed in Mexico and, under Mexican law, CFE has the exclusive right to transmit and distribute electricity in Mexico.