Shearman & Sterling represented Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Goldman, Sachs & Co. and UBS Securities LLC as the initial purchasers, in connection with a follow-on equity offering by Terrafina pursuant to a registered offering in Mexico and a Rule 144A/Regulation S offering outside of Mexico of 192,584,726 Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios, or “CBFIs”). The offering raised approximately $460 million.
Terrafina, a Mexican real estate investment trust (known by its Spanish acronym as a FIBRA), owns and manages a portfolio of approximately 230 real estate properties, including 217 developed industrial facilities across 35 cities in 17 states, primarily in the central, Baíjo and northern regions of Mexico. Terrafina’s CBFIs are listed on the Bolsa de Mexico, the main stock exchange in Mexico.
The following Shearman & Sterling team advised the initial purchasers in the transaction: partner Antonia Stolper (New York-Capital Markets) and associates Flavio Averbug (New York-Capital Markets), Jeffrey Tate (Washington, DC-Tax), Mary Jo Lang (Washington, DC-Tax) and Julia Twarog (New York-Corporate).