Baker McKenzie Advised Fibra Next On The Exercise In Full Of The Over-Allotment Of Real Estate Trust Certificates, Mexico.

Baker McKenzie advised Fibra Next on the exercise in full of the over-allotment of Real Estate Trust Certificates, Mexico

The global law firm, Baker McKenzie’s 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 the exercise in full of the over-allotment option to purchase an additional 5,500,000 Real Estate Trust Certificates (CBFIs) of Fibra Next. The exercise generated additional proceeds of approximately USD 30 million, bringing the combined value of Fibra Next’s IPO and follow-on offering to approximately USD 900 million. The CBFIs were offered publicly on the Mexican Stock Exchange and internationally pursuant to Rule 144A and Regulation S.

Fibra Next was formed through a split-off from Fibra Uno, Latin America’s largest real estate company, creating Mexico’s largest warehouse and logistics company. The proceeds from the follow-on offering and over-allotment exercise will primarily be used for the acquisition of an industrial real estate portfolio to be contributed to Next Properties. Baker McKenzie also represented Fibra Next in its earlier USD 450 million IPO and USD 370 million follow-on offering.

The Baker McKenzie team was led by Mike Fitzgerald (Partner), Arturo Carrillo (Partner), Joy Gallup (Partner), Pedro Reyes (Partner), and Steven Sandretto (Partner), with support from Alejandra Cuadra (Associate), Diego Aznar (Associate), Thomas May (Tax Senior Counsel), and Kia Waxman (Partner).

Other law firms involved included Holland & Knight (US and Mexican counsel to Fibra Next) and Mijares (Mexican counsel to initial purchasers and dealer managers).

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