Financial intelligence magazine The Banker has named a transaction on which White & Case advised among its Deals of the Year 2018—Americas. The magazine named "CFE's IPO" its Deal of the Year in the Equities category.
In the winning transaction, White & Case represented Comisión Federal de Electricidad (CFE), as Mexican and NY counsel in the first publicly traded Fibra E (energy and infrastructure investment trust) focused on Mexico's electric transmission sector and the first publicly traded company sponsored by CFE. The Fibra E issued 750,000,000 CBFEs Series A for an aggregate amount of MXN 16,387 million (US$862 million) as part of a global offering in Mexico and abroad (pursuant to Rule 144A/Regulation S) and 250,000,000 subordinated CBFEs owned by CFE. The CBFEs were fully registered in the CNBV and listed on the Mexican Stock Exchange.
"CFE's Fibra E is an innovative and creative deal," says White & Case Partner Vicente Corta (Mexico City). "The transaction combines an attractive group of assets, a robust corporate governance and efficient financial structure, providing CFE with an efficient way to finance its transmission lines infrastructure and meet its financial needs, attracting both Mexican and international investors."