Fibra Uno Aims to Top $1bn

Fibra Uno has launched an equity follow-on, aiming to price January 29 and raise more than $1bn. In its third trip to the markets, the Mexican real estate fund is offering 511m shares, including an overallotment option, according to regulatory documents. This would suggest a MXP18.68bn ($1.48bn) deal at Monday’s MXP36.55 closing price. Fibra Uno is looking for additional funds to grow its property portfolio. Credit Suisse and Santander are global coordinators, joined by bookrunners BBVA and Evercore. 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 last year.