Fibra INN’s Debts Restructuring


Holland & Knight represented Fibra INN in its successful debt restructure by means of a debt tender offer of $97 million (MXN$1.8 billion) and a new debt issuance of $108 million (MXN$2 billion), which was oversubscribed by 1.44 times.

BBVA Bancomer and Actinver acted as intermediaries of the debt tender offer and as underwriters of the debt issuance.

The purpose of these transactions was to improve Fibra INN’s debt profile and to change the interest rate of a significant proportion of Fibra INN’s debt from variable to fixed. This was accomplished by tendering “FINN 15” debt trust certificates originally issued at a variable rate and simultaneously issuing “FINN 18” debt trust certificates at a fixed rate.

Fibra INN is a Mexican real estate trust formed primarily to acquire, develop, operate and rent a broad range of hotel properties in Mexico. The company has a portfolio of high-quality real estate properties throughout Mexico for business travelers.

Fibra INN was represented by Holland & Knight Partner Guillermo Uribe Lara (Picture) and Associate Jorge E. Gonzalez Carlini, both in Mexico City.

Involved fees earner: Guillermo Uribe Lara – Holland & Knight; Jorge Gonzalez Carlini – Holland & Knight;

Law Firms: Holland & Knight;

Clients: Fibra Inn;

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Author: Ambrogio Visconti.