Comisión Federal de Electricidad Issues Second Formosa Bond
March 12, 2018
Cleary Gottlieb represented long-time client Comisión Federal de Electricidad (CFE), the Mexican state-owned electric company, in a $727 million offering of 5.00 percent notes due 2048 to be listed in the Taipei Exchange.
The offering priced on February 9, 2018, and settled on March 12, 2018. HSBC Taiwan and E. SUN Bank acted as managers and Barclays and Morgan Stanley acted as structuring agents. CFE was the first Mexican issuer to access Taiwan’s Formosa bond market in June 2017.
The proceeds from this offering will be used to finance electric infrastructure projects in Mexico.