Comisión Federal de Electricidad in $750 Million Note Offering

February 14, 2012

Cleary Gottlieb represented Comisión Federal de Electricidad, Mexico’s government-owned electric utility, in its Rule 144A/Regulation S offering of $750 million aggregate principal amount of senior notes. The offering priced on February 7, closed on February 14 and was underwritten by BBVA, BNP Paribas and Citigroup. The transaction was CFE’s second debt offering in the international capital markets. Cleary Gottlieb also represented CFE in its debut $1 billion notes offering in May 2011.

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.