Cases & Deals

Citigroup Global Markets and Scotiabank-led syndicate purchases 117,049,735 CBFIs in global offering by FIBRA Prologis

Client(s) Citigroup Global Markets Inc. and Scotia Capital (USA) Inc.

Jones Day represented Citigroup Global Markets Inc. and Scotia Capital (USA) Inc., as representatives of the several initial purchasers, as U.S. securities counsel in connection with the global offering by FIBRA Prologis of 117,049,735 real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios, or “CBFIs”). FIBRA Prologis is a leading Mexican real estate investment trust focused on acquiring, owning, and managing Class-A logistics and manufacturing facilities in Mexico.

The global offering involved the issuance of 41,320,946 CBFIs pursuant to a public offering in Mexico and 75,728,789 CBFIs pursuant to a Rule 144A offering outside of Mexico. Gross proceeds of the global offering were approximate US$385 million. FIBRA Prologis intends to use the net proceeds from the offering, in addition to cash on hand and borrowings under its credit facility, to fund acquisitions in 2023 and 2024 and for general corporate purposes.