Cleary acts on $100m CFE credit facility
Cleary Gottlieb has acted as legal counsel to the Comisión Federal de Electricidad (CFE), Mexico’s state-owned electricity company, as co-obligor on a USD $100 million bilateral credit facility by Bank of America to a trust.
The special purpose trust, sponsored by CFE, intends to use the funds to invest in energy projects in Mexico. The transaction closed on 31 March and the borrowing is expected to take place in mid-April.
CFE is a decentralised public entity of the Mexican federal government that generates and distributes electricity throughout Mexico.
Cleary’s team included partner Manuel Silva (pictured) and international lawyer Alejandro Guajardo Ibarra. Both lawyers are based in New York.
