(CFE, 2.Jun.2022) — Comisión Federal de Electricidad (CFE), a productive state enterprise of the Federal Government of the United Mexican States (Mexico), announced today the early tender results of its previously announced tender offer to purchase for cash its notes of the series set forth in the table below (all such notes, collectively, the “Notes” and each a “series” of Notes), for an aggregate purchase price, excluding accrued and unpaid interest, of up to US$1,000,000,000, upon the terms and subject to the conditions set forth in the offer to purchase dated 19 May 2022 (as it may be amended or supplemented from time to time, the “Offer to Purchase“) and subject to (1) the maximum per series consideration for the 4.875% Notes due 2024 set forth in the table below, (2) the acceptance priority level of each series of Notes, and (3) possible proration, each as described herein and in the Offer to Purchase.
The following table sets forth certain information relating to the Offer, including the principal amount of Notes tendered on or prior to 5:00 p.m. (New York City time) on 2 June 2022 (the “Early Tender Date“):
| Title of Security | CUSIPs | ISINs | Principal Amount Outstanding | Acceptance Priority Level | Maximum Per Series Consideration | Principal Amount Tendered on or prior to the Early Tender Date |
| 4.875% Notes due 2024 | 200447 AD2; P30179 AM0 | US200447AD28; USP30179AM09 | US$1,250,000,000 | 1 | US$500,000,000 | US$380,312,000 |
| 6.125% Notes due 2045 | 200447 AE0; P30179 AR9 | US200447AE01; USP30179AR95 | US$700,000,000 | 2 | N/A | US$81,692,000 |
| 5.750% Notes due 2042 | 200447 AC4; P30179 AK4 | US200447AC45; USP30179AK43 | US$750,000,000 | 3 | N/A | US$186,429,000 |
| 4.677% Notes due 2051 | 200447 AJ9; P29595 AE8 | US200447AJ97; USP29595AE80 | US$800,000,000 | 4 | N/A | US$187,273,000 |
| 4.75% Notes due 2027 | 200447 AF7; P29595 AB4 | US200447AF75; USP29595AB42 | US$1,000,000,000 | 5 | N/A | US$185,032,000 |
| 3.348% Notes due 2031 | 200447 AH3; P29595 AD0 | US200447AH32; USP29595AD08 | US$1,200,000,000 | 6 | N/A | US$208,866,000 |
On the terms and subject to the conditions set forth in the Offer to Purchase, CFE intends to accept for purchase all Notes validly tendered on or prior to the Early Tender Date promptly after the determination of the tender consideration payable per each US$1,000 principal amount of each series of Notes validly tendered and not validly withdrawn on or prior to the Early Tender Date (the “Early Tender Consideration“). Promptly after 11:00 a.m. (New York City time) tomorrow, 3 June 2022, CFE expects to issue a press release announcing, among other things, (i) the aggregate principal amount of Notes accepted in the Offer, (ii) the Early Tender Consideration payable for each series of Notes accepted in the Offer, and (iii) the aggregate purchase price, excluding accrued and unpaid interest, expected to be paid for each series of Notes accepted in the Offer.
Withdrawal rights for the Offer expired at 5:00 p.m. (New York City time) on 2 June 2022. The Offer will expire at 11:59 p.m. (New York City Time) on 16 June 2022, unless extended by CFE in its sole discretion.
All conditions described in the Offer to Purchase that were to be satisfied or waived on or prior to the Early Tender Date have been satisfied.
CFE has retained BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Mizuho Securities USA LLC to act as dealer managers in connection with the Offer (the “Dealer Managers“). Any questions or requests for assistance regarding the Offer may be directed to the Dealer Managers at their contact information set forth below.
| BBVA Securities Inc. 1345 Avenue of the Americas New York, New York 10105 United States of America Attn: Liability Management Toll Free: +1 800-422-8692 Collect: +1 212-728-2446 | Citigroup Global Markets Inc. 388 Greenwich Street, 4th Floor Trading New York, New York 10013 United States of America Attn: Liability Management Toll-Free: +1 800-558-3745 Collect: +1 212-723-6106 | Deutsche Bank Securities Inc. 1 Columbus Circle New York, New York 10019 United States of America Attn: Liability Management Group Toll-Free: +1 855-287-1922 Collect: +1 212-250-7527 | Mizuho Securities USA LLC 1271 Ave. of the Americas New York, New York 10020 United States of America Attn: Liability Management Toll-Free: +1 866-271-7403 Collect: +1 212-205-7736 |
Copies of the Offer to Purchase may be obtained from Global Bondholder Services Corporation, the tender agent (the “Tender Agent“) and the information agent (the “Information Agent“) for the Offer, at +1 (855) 654-2015 (toll-free) or +1 (212) 430-3774 (collect).
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