Last updated: 07:17 / Monday, 18 March 2013
Fibra INN

Mexico has a new REIT

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Mexico has a new REIT

Fibra INN, a Mexican real estate investment trust specializing in the hotel industry, announced on March 13th, the pricing and results of its initial public offering.

With 214,316,264 Certificados Bursátiles Fiduciarios Inmobiliarios (“CBFIs”), 60.2% of which was placed with Mexican investors and 39.8% of which was purchased by international investors under rule 144A in the U.S. and Reg S outside the U.S., the offering price was Ps. 18.50 per CBFI, yielding an aggregate value of Ps. 3,964,850,884.

According to a press release, Desarrollos del Valle will contribute 8 hotels and holds non-mandatory options to purchase an additional 6 hotels that will make up its initial portfolio of 14 total hotels.

Corporación Actinver, S.A.B. de C.V. acted as structuring agent. Actinver Casa de Bolsa, S.A. de C.V. acted as joint bookrunner along with Casa de Bolsa Credit Suisse (México), S.A. de C.V. and Santander Investment Securities Inc.

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