White & Case Advised BBVA, Actinver, Scotia Inverlat, BTG Pactual and GBM, as Underwriters, on a MXN 3.45 Billion Issuance for Fibra Mty
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Global law firm White & Case LLP has advised the underwriters on the second multi-offering program of long-term real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios or CBFIs) and debt certificates (certificados bursátiles or CEBURES) established by Mexican real estate investment trust Fibra Monterrey (Fibra Mty) for up to MXN 20 billion, and the first global offering of CBFIs comprising a public primary offering in Mexico and a limited private offering in the US for MXN 3.45 billion.
The underwriters on the transaction in Mexico, which closed September 15, included BBVA Mexico, Actinver, Scotia Inverlat, BTG Pactual and Grupo Bursatil Mexicano (GBM). The CBFIS were fully registered on the Comisión Nacional Bancaria y de Valores (CNBV) and listed on the Mexican Stock Exchange. BTG Pactual US Capital, LLC acted as international advisor to Fibra Mty for purposes of the international promotion of the offering.
Fibra Mty is a Mexico-based real estate investment trust vehicle focused on the acquisition, development and administration of corporate real estate properties, with assets in nine Mexican states. The proceeds of the issuance will be used by Fibra Mty for the financing of potential property acquisitions as well as for general corporate purposes.
The transaction was also promoted by two of the underwriters, GBM and Actinver, within the retail sector through the initiative "Súmate al follow-on de Fibra Mty," a digital media campaign that involved approaches to retail clients through social media, online expert interviews and others.
The White & Case team in Mexico City was led by partners Juan Antonio Martín and Carlos Mainero, counsel Eric Quiles, and included associate Viridiana Alanis.
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