MEXICO CITY, June 2, 2022 /PRNewswire/ — Federal Commission of Electricity (“KFE” or the “company“), a prolific state enterprise of the federal government of the United Mexican States (“Mexico“), announced today the advanced tender results of its previously announced tender offer to purchase its Notes of the series set forth in the table below for cash (all such Notes together the “Remarks” and each one “series” of the Notes) for an aggregate purchase price excluding accrued and unpaid interest of up to $1,000,000,000on the terms and subject to the terms set out in the dated purchase offer May 19, 2022 (as may be amended or supplemented from time to time, the “purchase offer“) and subject to (1) the maximum consideration per Series 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) any apportionment, each as described herein and in the purchase offer.
The following table contains certain information in relation to the offering, including the principal amount of the Notes, which were offered on or before the 5.00 (NYC time is running June 2, 2022 (the “Early tender date“):
|
title of security |
CUSIPs |
ISINs |
nominal amount |
assumption |
Maximum per series thoughtfulness |
nominal amount |
|
4.875% Notes due 2024 |
200447 AD2; |
US200447AD28; |
$1,250,000,000 |
1 |
$500,000,000 |
$380,312,000 |
|
6.125% bonds due 2045 |
200447 AE0; P30179 AR9 |
US200447AE01; USP30179AR95 |
$700,000,000 |
2 |
N / A |
$81,692,000 |
|
5,750% Notes due 2042 |
200447 AC4; P30179 AK4 |
US200447AC45; USP30179AK43 |
$750,000,000 |
3 |
N / A |
$186,429,000 |
|
4,677% bonds due 2051 |
200447 AJ9; |
US200447AJ97; USP29595AE80 |
$800,000,000 |
4 |
N / A |
$187,273,000 |
|
4.75% Notes due 2027 |
200447AF7; P29595 AB4 |
US200447AF75; |
$1,000,000,000 |
5 |
N / A |
$185,032,000 |
|
3.348% bonds due 2031 |
200447AH3; P29595 AD0 |
US200447AH32; USP29595AD08 |
$1,200,000,000 |
6 |
N / A |
$208,866,000 |
Under the terms and subject to the terms of the Tender Offer, CFE intends to accept for purchase all Notes validly tendered on or before the Early Tender Date promptly after the determination of the relevant consideration payable $1,000 Principal Amount of each Series of Notes issued on or before the Early Tender Date (the “Early Bid Consideration“). Immidiatly after 11:00 o’clock (NYC time) tomorrow, June 3, 2022CFE expects to issue a press release setting out, among other things, (i) the aggregate principal amount of the Notes accepted in the Offer, (ii) the Early Consideration payable for each series of Notes accepted in the Offer, and (iii) the Aggregate Purchase Price excluding accrued and unpaid interest , which is expected to be paid for each Series of Notes accepted in the Offer.
The right of withdrawal for the offer expired on 5.00 (NYC time is running June 2, 2022. The offer ends on 11:59 p.m (New York time). June 16, 2022unless extended by CFE in its sole discretion.
All conditions described in the Tender Offer which were to be satisfied or waived on or before the Early Tender Date have been satisfied.
* * *
CFE has acquired BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Mizuho Securities United States of America LLC acting as Dealer Manager in connection with the Offering (the “dealer manager“). Any questions or requests for assistance in relation to the Offer may be directed to the Dealer Managers using their contact information provided below.
|
BBVA Securities Inc. Attn: liability management Toll-free: +1 800-422-8692 Collect: +1 212-728-2446 |
Citigroup Global Markets Inc. 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 Pickup: +1 212-250-7527 |
Mizuho Securities USA LLC Attn: liability management Toll-free: +1 866-271-7403 Pickup: +1 212-205-7736 |
Copies of the Tender Offer are available from Global Bondholder Services Corporation, the Tender Agent (the “tender agent“) and the Observatory (the “Observatory“) for the offer at +1 (855) 654-2015 (toll free) or +1 (212) 430-3774 (collector).
Disclaimer
This press release must be read in conjunction with the Tender Offer. This announcement and the offer to Purchase contains important information that must be read carefully before making a decision regarding your purchase Offer. If a Noteholder is in any doubt as to the action to be taken, it is recommended that they seek their own legal counsel, Tax, accounting and financial advice, including any tax consequences, promptly from his stockbroker, his bank manager, solicitor, accountant or other independent financial or legal adviser. Any person or company whose Debentures are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact this entity if they wish to participate in the Offer. None of the enterprisethe Dpreviously Mfurioussthe tender agent and the Observatory and any person who controls or is a director, officer, employee or agent from any such person or affiliate of any such person makes a recommendation as to whether Noteholders should do so participate in the offer.
The Tender Offer has not been filed with the US Securities and Exchange Commission, nor has it been filed with or reviewed by any federal or state securities commission or regulatory agency of any country. No authority has confirmed the accuracy or adequacy of the Tender Offer and it is unlawful and may be a criminal offense to make any representation to the contrary.
THE INFORMATION CONTAINED HERE AND IN THE OFFER TO PURCHASE IS SOLELY THE RESPONSIBILITY OF CFE AND HAS NOT BEEN VERIFIED OR AUTHORIZED BY THE MEXICAN NATIONAL BANKING AND SECURITIES COMMISSION (COMMISSION NACIONAL BANCARIA Y DE VALORES, OR THE “CNBV”). CFE HAS NOT FILED AN APPLICATION FOR APPROVAL OF THE OFFERING WITH THE CNBV, AND WILL NOT FILE AN APPLICATION. THE OFFER DOES NOT CONSTITUTE A PUBLIC OFFER (OFERTA PUBLICA) OF ANY KIND (INCLUDING A OFERTA PUBLICA DE ADQUISICIÓN) IN MEXICO AND IT MAY NOT BE DISTRIBUTED TO THE PUBLIC MEXICO. THE OFFER MAY ONLY BE MADE AVAILABLE MEXICO TO INSTITUTIONAL OR APPROVED INVESTORS QUALIFYING (INVERSIONISTAS INSTITUCIONAL OR INVERSIONISTAS CALIFICADOS), EXCLUSIVELY IN ACCORDANCE WITH ARTICLE 8 NUMBER I OF THE MEXICAN SECURITIES MARKETS LAW (LEY DEL MERCADO DE VALORES). IN DECISING WHETHER TO OFFER THEIR DEBT, ALL HOLDERS MUST RELY ON THEIR OWN REVIEW AND EXAMINATION OF THE TERMS OF THE OFFER. CFE WILL NOTIFY THE RESULTS OF THE OFFERING TO THE CNBV FOR INFORMATIONAL AND STATISTICAL PURPOSES ONLY, AND THE SUBMISSION OR RECEIPT OF SUCH NOTICE BY THE CNBV DOES NOT IMPLIED ANY CERTIFICATION AS TO THE INVESTMENT QUALITY OF THE DEBT, CFE’S SOLVENCY, LIQUIDITY OR CREDIT QUALITY, OR THEIR ACCURACY OR COMPLETENESS OF ANY INFORMATION SET FORTH HEREIN.
The offer is made exclusively on the terms set out in the purchase offer. Under no circumstances does this press release constitute an offer to purchase, or the solicitation of an offer to sell, the Notes or other securities of the Company or any of its subsidiaries. The Offer is not directed to holders of Notes in any jurisdiction where the Offer or the acceptance of the Offer would not be consistent with the securities or blue sky laws of that jurisdiction, nor will the Company accept offers of Notes from Holders.
Forward-Looking Statements
Statements in this press release may be forward-looking statements. Forward-looking statements are information that are not historical or related to future events and involve risks and uncertainties. There can be no assurance that the transactions described herein will be consummated or affect the final terms of such transactions. CFE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Comisión Federal de Electricidad
