Cleary Gottlieb represented longtime client Comisión Federal de Electricidad (CFE), the Mexican state-owned electric company, in connection with the issuance of $1.2 billion aggregate principal amount of 3.348% notes due 2031 and $800 million aggregate principal amount of 4.677% notes due 2051.
The offering priced on February 2, 2021, and is expected to settle on February 9, 2021. The proceeds from the offering will be used to refinance existing indebtedness and for general corporate purposes.
BBVA Securities, Goldman Sachs & Co, J.P. Morgan Securities, and Mizuho Securities USA acted as global coordinators and joint book-running managers of the offering, while Barclays Capital, Citigroup Global Markets, and Santander Investment Securities acted as joint book-running managers.
The notes are expected to be listed on the Luxembourg Stock Exchange.