White & Case LLP has served as legal advisor to BofA Securities, Inc., Citigroup Global Markets Inc., Barclays Capital Inc., and Santander US Capital Markets LLC for the inaugural issuance of notes by FIBRA-E CFE. The transaction involved US$725 million in aggregate principal amount of 5.875% senior notes due in 2040. According to White & Case, the offering was ten times oversubscribed and represents the first time a Mexican FIBRA-E has issued such notes.
FIBRA-E CFE is an energy and infrastructure investment trust based in Mexico. It is the first publicly traded entity sponsored by Comisión Federal de Electricidad (CFE), which is Mexico’s state-owned company responsible for electricity generation and distribution. FIBRA-E CFE remains the only investment vehicle with access to revenues from energy transmission.
The White & Case team advising on this transaction included Capital Markets partners John Vetterli (New York), Eduardo Flores, and Narciso Campos (both based in Mexico City); Project Development and Finance partner Juan Ruenes (Mexico City); Capital Markets counsel Jorge Escalante (Mexico City); associates Christie Garcia (Miami) and Jorge Reyes (Mexico City); and Project Development and Finance associate Jose Daniel Franco (Mexico City).