Terrafina in $500 Million Offering and Cash Tender Offer

July 18, 2019

Cleary Gottlieb represented Terrafina in its $500 million Rule 144A/Reg S debt offering of 4.962% senior notes due 2029.

Cleary also represented Terrafina in a concurrent cash tender offer using the proceeds of the debt offering to purchase any and all of its outstanding 5.25% notes due 2022 in an abbreviated five-day tender offer.

The cash tender offer launched on July 8, 2019, and expired on July 12, 2019. The debt offering launched on July 15, 2019, and closed on July 18, 2019. The cash tender offer settled on July 18, 2019. J.P. Morgan Securities LLC, BBVA Securities Inc., Citigroup Global Markets Inc., and Barclays Capital Inc. acted as initial purchasers for the bond offering and as dealer managers for the cash tender offer.

Terrafina, a Mexican real estate investment trust and the second-largest Mexican FIBRA in terms of gross leasable area, is one of the leading industrial real estate companies in Mexico, with strategic operations in the country’s top industrialized cities.