Terrafina’s $500 Million Notes Offering And Concurrent Tender Offer


Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A and Regulation S offering by Terrafina of $500 million aggregate principal amount of its 4.962% senior notes due 2029. Davis Polk also advised the dealer managers in connection with a concurrent tender offer by Terrafina.

Terrafina is a Mexican real estate investment trust (“FIBRA”) anchored by a large industrial portfolio and externally advised by Prudential Financial Inc.’s real estate investment management business, PGIM Real Estate. Terrafina’s portfolio includes 287 developed industrial facilities with a collective gross leasable area of approximately 41.1 million square feet as of March 31, 2019.

Terrafina is a Mexican real estate investment trust (“FIBRA”) anchored by a large industrial portfolio and externally advised by Prudential Financial Inc.’s real estate investment management business, PGIM Real Estate. Terrafina’s portfolio includes 287 developed industrial facilities with a collective gross leasable area of approximately 41.1 million square feet as of March 31, 2019.

Barclays and Citigroup acted as the representatives of the dealer managers on the transaction.

The Davis Polk capital markets team included partner Maurice Blanco (Picture) and counsel Katia Brener. The tax team included partner Michael Mollerus and associate Joseph Jarashow.

Involved fees earner: Maurice Blanco – Davis Polk & Wardwell; Katia Brener – Davis Polk & Wardwell; Joseph Jarashow – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital; Citigroup Inc.;

Author: Ambrogio Visconti