Mexico’s CFE offers to buy up to 105 million 7.35% certificados bursatiles

Chicago, Nov. 5 – Comision Federal de Electricidad is offering to purchase up to Ps. 10.5 billion outstanding principal amount, or 105 million, of its 7.35% certificados bursatiles due 2025 (ISIN: MX95CF050047), according to a press release.

Holders will receive an amount in cash for each Ps. 100 principal amount equal to the present value on the settlement date of each of the pending payments of principal and interest.

The payment will be discounted at a rate equal to the sum of the annual rate of return of the MBono due on March 5, 2026 plus 145 basis points.

The hypothetical consideration based on the present value of the reference MBono purchase rate on Nov. 4 of 7.22% plus 145 bps for the settlement date would be Ps. 95.605155 per Ps. 100 principal amount.

The offer will expire at 1 p.m. ET on Dec. 8.

Settlement is expected on Dec. 13.

Tenders may be subject to proration.

The offer is conditioned on the company obtaining the required authorizations and resolutions required to consummate the offer under conditions that do not adversely affect the company.

Casa de Bolsa BBVA Mexico, SA de CV, Grupo Financiero BBVA México is the intermediary for the offer in Mexico (liq.intermediarios.group@bbva.com, +55 5621-9135, +55 5621-9148).

Lucid Issuer Services Ltd. is the information agent (+44 20 7704 0880, cfe@lucid-is.com, https://deals.lucid-is.com/cfe).

CFE is a Mexico City-based electric company.

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