Grupo E Fibra Delayed

Grupo E has delayed a deal to issue Mexico’s first Fibra, or REIT transaction, expected to price Thursday. A banker on the deal says more formal information will be announced today. The Grupo E deal had been expected to sell 230m certificates with a projected range of MXP21-MXP23 each. The vehicle, known as Fibra Uno, consists of 12 industrial, commercial, office, and mixed use properties located throughout Mexico and totaling 484,000 square meters. Grupo E consists of 60-70 owners, led by the El-Mann and Attie families. Proceeds from the sale will be used to fund the acquisition of 5 additional commercial and mixed-use properties totaling 189,000 square meters. In accordance with Mexican regulations, the trust will distribute 95% of its income. The transaction has been awaited ever since regulators approved the asset class for sale in Mexico’s equity market in 2010. Santander is lead coordinator in Mexico, with BAML and UBS as global coordinators and Mexican bookrunners and Protego as a Mexican bookrunner.