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News Nov 03, 2017

Shearman & Sterling Advises on $350 Million Senior Unsecured Term Loan for FIBRA Terrafina

Shearman & Sterling advised Banco Nacional de México, S.A. integrante del Grupo Financiero Banamex (Banamex), as administrative agent, in connection with a five-year, $350 million unsecured term loan for FIBRA Terrafina.  Proceeds of the loan were used to pay down an existing credit facility and pay off an existing term loan.  The new term loan contains an accordion feature allowing for possible future additional borrowings of up to $50 million, which would expand the maximum available amount to $400 million.

FIBRA Terrafina is a leading Mexican industrial real estate investment trust, externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease and management of industrial real estate properties in Mexico. 

The Shearman & Sterling team included partner Malcolm Montgomery and associates Elizabeth Martialay and Horton McKinney Huerta (all New York-Real Estate).

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