MEXICO CITY, Feb. 27, 2012 /PRNewswire/ -- Fibra Uno (BMV: FUNO11) ("Fibra Uno" or "The Trust"), Mexico's first and only real estate investment trust, announced today that it plans to carry out a global public offering of Certificados Bursatiles Fiduciarios Inmobiliarios (CBFIs) and that it has begun the relevant processes with the Comision Nacional Bancaria y de Valores (CNBV) and the Bolsa Mexicana de Valores (BMV), Mexico's securities regulatory agency and stock exchange respectively.
Fibra Uno Announces Follow-On Offering
The global public offering of CBFIs will be 100% primary and the proceeds will be used to finance the acquisition of various properties. The offering will take place in Mexico via the BMV, in the United States via Reg. 144A and in other countries via Reg. S.
The Global Coordinator and the Lead Bookrunner is Casa de Bolsa Santander SA de CV Grupo Financiero Santander, the Joint Global Coordinator and Lead Bookrunner for the Mexican phase is Casa de Bolsa BBVA Bancomer SA de CV Grupo Financiero BBVA Bancomer. The Lead Bookrunner in Mexico is Protego Casa de Bolsa SA de CV and Casa de Bolsa Actinver SA de SV is co-lead Bookrunner. For the offering in the international markets, the Global Joint Lead Coordinator is Credit Suisse Securities (USA) LLC. Protego Asesores S. de R.L is the structuring agent of the offering.
This notice is not notice of a Public Offering; possible investors should consult the official offering documents published on the websites of the BMV and the CNBV.
Recent Relevant Events
Fibra Uno carried out its IPO on March 18, 2011. Since then, Fibra Uno has carried out the following relevant events:
a) Between April and June 2011, the Trust carried out the acquisitions announced in the IPO to complete the Initial Portfolio of 16 properties.
b) In July 2011, the Trust announced the acquisition of a 17th property known as Toluca.
c) The Trust has paid out all quarterly distribution payments corresponding to the 2011 results.
d) In December 2011, Fibra Uno announced it has obtained two credit lines for a total of Ps. 3.6 billion that will be used to finance the acquisition of certain properties.
e) In January 2012, the Trust announced an agreement with MexFund to acquire as many as 23 properties in exchange for CBFIs, subject to certain conditions. This deal would grow Fibra Uno's total portfolio to as many as 40 properties.
CEO Comments
"I am delighted to announce to our investors and to the general public that, thanks to the strong performance of our CBFIs in the market, we have decided to increase our capital through an offering of CBFIs, 100% of which will be primary. The offering has the following objectives: to support the growth of Fibra Uno, widen our base of investors in Mexico and the international markets, and to boost the liquidity of our CBFIs.
On the other hand, the proceeds of the offering will be used to finance the acquisition of various portfolios of properties. It is worth mentioning that the proceeds of the offering will complement our existing sources of financing. The acquisitions that we are seeking to carry out in the coming months will be financed with: i) the credit lines that we have obtained and the assumption of debt of certain properties; ii) the liquid resources raised in the offering, and iii) the issuance of CBFIs to the sellers of properties, should the sellers prefer it.
At the same time, we have set the following limits to the use of the proceeds of the offering: a maximum of one third of the resources raised will be used to purchase properties in development; a maximum of one third of the resources raised will be used to acquire properties from related parties and the remainder will be used to acquire properties that are stabilized (or are in the process of being stabilized) from third parties."
Andre El-Mann, Chief Executive Officer, Fibra Uno
About Fibra Uno
Fibra Uno is a Mexican trust formed primarily to acquire, own, develop and operate a broad range of commercial real estate in Mexico, including industrial, retail, tourist, office and mixed-use. Our objective is to offer attractive returns to the holders of our CBFIs through stable cash distributions and the appreciation of our real estate assets. We intend to assemble a portfolio of high-quality, strategically-located, income-producing commercial properties in Mexico with stable revenue flows. The Trust began trading on the Mexican stock exchange on March 18, 2011. Currently, it has 17 properties in central and southern Mexico, with an approximate GLA of 706,214 square meters. Additionally, Fibra Uno is analyzing a series of properties to buy and lease to increase the revenues of its portfolio. Under Mexican law, at least 70% of a Fibra's assets must be invested in or derived from income-producing real estate, among other requirements. In addition, a Fibra must also distribute at least 95% of its net taxable income to investors at least once a year. This, combined with the attractive fundamentals of Mexico's real-estate market and a seasoned management team, make Fibra Uno a compelling investment story. Fibra Uno is an internally managed by F1 Management, S.C. and externally advised by Fibra Uno Administracion S.A. de C.V., a Mexican real estate operator with a management with more than 30 years of experience in the development and operation of real estate in Mexico. Fibra Uno carried out its initial public offering, innovating in the Mexican real estate industry by offering investors a new vehicle to invest and to generate attractive returns, and by creating a new financing channel for developers. Fibra Uno seeks to increase its portfolio, offer attractive returns and create value for its investors as well as to contribute to the development of Mexico's real estate sector.
A number of important factors could cause the actual results to materially differ from the plans, objectives, expectations, estimates and intentions expressed in this release. Under no circumstances will the Issuer or any of its affiliates, directors, officials, agents or employees be held responsible by third parties (including investors) for any type of investment or business decision carried out or measures adopted based on the information and the declarations contained in this release. This release does not constitute an offer, promotion or invitation, or the request of an offer of subscription to purchase any type of security. Neither this document nor any of its contents constitutes the basis of any time of contract or agreement. The information related to the market and the competitive position of the Issuer, including the market estimates, utilized in the course of this document were obtained via reliable public sources and neither the intermediaries nor the Issuer assumes any representation or guarantee as to the accuracy of this information. Whoever receives this document must comply with the applicable legal dispositions and must obtain all and every applicable authorization. Neither the Issuer nor any of its affiliates, directors, officials, agents or employees will be held responsible by third parties (including investors) for these obligations. All the relevant information of the Issuer, in particular those related to risk factors, can be found in the offering prospectus in which can be accessed through the website of the Bolsa Mexicana de Valores www.bmv.com.mx.
SOURCE Fibra Uno
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