Leading global law firm Baker McKenzie announced today that the New York office represented BBVA, BTG Pactual, Citigroup, J.P. Morgan and Morgan Stanley, as global coordinators, and Barclays, BofA Securities, Goldman Sachs and Santander, as joint bookrunners, in connection with an approximately USD 370 million follow-on offering by Fibra Next. The offering of Real Estate Trust Certificates, also known as CBFIs (Certificados Bursátiles Fiduciarios Inmobiliarios), was offered publicly in Mexico on the Mexican Stock Exchange and was made internationally pursuant to Rule 144A and Regulation S.
Baker McKenzie is also representing BBVA, Citigroup and J.P. Morgan, as dealer managers, in connection with concurrent exchange offers by Next Properties, a subsidiary of Fibra Next, of up to USD 2 billion aggregate principal amount of its outstanding USD 3.8 billion of six series of international bonds issued by Fibra UNO. The exchange offers, conducted pursuant to Rule 144A and Regulation S, resulted in the issuance of approximately USD 2 billion of new senior notes by Next Properties. This is believed to be the largest international corporate bond issuance in Latin America this year.
Fibra Next was created as a result of a split off by Fibra Uno, the largest real estate company in Latin America, of its logistics operations, forming the largest warehouse and logistics company in Mexico. The proceeds received by Fibra Next will be used primarily for acquisition of an industrial real estate portfolio to be contributed to Next Properties.
Baker McKenzie also represented Fibra Next in connection with its approximately USD 450 million initial public offering earlier this year. The combined USD 820 million initial public offering and follow-on offering represented the largest equity issuance in Mexico in almost a decade and one of the largest IPOs in Latin America.
Transactional Practice Group Partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes and Steven Sandretto led the Baker McKenzie team, which also included Associates Alejandra Cuadra, Cyerra McGowan, Diego Aznar and Vedant Sharma, as well as Tax Senior Counsel Thomas May and Partner Kia Waxman.
Other law firms participating in this transaction included Holland & Knight (as Fibra Next’s US and Mexican counsel) and Mijares (as initial purchasers' and dealer managers' Mexican counsel).
Baker McKenzie is also representing BBVA, Citigroup and J.P. Morgan, as dealer managers, in connection with concurrent exchange offers by Next Properties, a subsidiary of Fibra Next, of up to USD 2 billion aggregate principal amount of its outstanding USD 3.8 billion of six series of international bonds issued by Fibra UNO. The exchange offers, conducted pursuant to Rule 144A and Regulation S, resulted in the issuance of approximately USD 2 billion of new senior notes by Next Properties. This is believed to be the largest international corporate bond issuance in Latin America this year.
Fibra Next was created as a result of a split off by Fibra Uno, the largest real estate company in Latin America, of its logistics operations, forming the largest warehouse and logistics company in Mexico. The proceeds received by Fibra Next will be used primarily for acquisition of an industrial real estate portfolio to be contributed to Next Properties.
Baker McKenzie also represented Fibra Next in connection with its approximately USD 450 million initial public offering earlier this year. The combined USD 820 million initial public offering and follow-on offering represented the largest equity issuance in Mexico in almost a decade and one of the largest IPOs in Latin America.
Transactional Practice Group Partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes and Steven Sandretto led the Baker McKenzie team, which also included Associates Alejandra Cuadra, Cyerra McGowan, Diego Aznar and Vedant Sharma, as well as Tax Senior Counsel Thomas May and Partner Kia Waxman.
Other law firms participating in this transaction included Holland & Knight (as Fibra Next’s US and Mexican counsel) and Mijares (as initial purchasers' and dealer managers' Mexican counsel).
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