Terrafina in $460 Million Follow-On Equity Offering

September 24, 2014

Cleary Gottlieb represented Terrafina, a real estate investment trust (fideicomiso de inversión en bienes raices, or “FIBRA”), in its recent $460 million follow-on equity offering of 110,736,217 Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios), which includes the exercise of an over-allotment option. The offering was comprised of a public offering on the Mexican Stock Exchange and a Rule 144A/Reg S offering in the United States and outside of Mexico and the United States. Citigroup Global Markets, HSBC Securities, Goldman Sachs and UBS Securities acted as initial purchasers of the offering. The transaction closed on September 24, 2014.

Terrafina is a FIBRA targeting industrial real estate opportunities in Mexico with a portfolio consisting of 230 real estate properties, including 217 developed industrial facilities and 13 land reserve parcels located across 35 cities in 17 Mexican states. Terrafina is advised by an affiliate of PREI Latin America, the Latin America business of Prudential Real Estate Investors. PREI Latin America is one of the largest real estate investment managers in Latin America and has been investing in the region since 2002.