Fibra Uno to Return for Follow-on

Mexico’s Fibra Uno is preparing to hit the equity capital markets for its second follow-on, according to regulatory documents. The first-ever real estate fund created under Mexico’s growing Fibra asset class raised $300m-equivalent in a 2011 IPO and added $700m in a follow-on earlier this year. There is not yet an indication of the new transaction’s size. The fund announced last week that it would acquire a 30-property portfolio for MXP18.4bn, and that it would pay for the deal in cash and shares, using credit facilities to cover the cash portion. In addition, the planned follow-on would raise funds that could be put to use to help fund the purchase or for other corporate purposes. The documents give no specific indication of timing of the new sale, other than that is expected in January. Credit Suisse, Evercore and Santander are managing, with the possibility for other banks to be added. The class is becoming popular with investors, with Macquarie’s Mexican real estate operation pricing a MXP14.95bn Fibra last week.