Mexico’s Fibra Inn eyes up to Ps. 2 billion 10-year fixed-rate debt

By Wendy Van Sickle

Columbus, Ohio, Jan. 18 – Deutsche Bank Mexico, SA, or Fibra Inn, plans to issue up to Ps. 2 billion of 10-year fixed-rate senior notes (//AA-), according to a company news release.

The note issue is intended to refinance the company’s liabilities in order to improve its debt profile and convert it to a fixed interest rate. It is being conducted in conjunction with a tender offer for the company’s FINN 15 debt securities.

The notes will be callable at a make-whole price until 18 months prior to their maturity, at which time they will become redeemable at par.

A bookbuilding is set for Jan. 31, and the issuance is set for Feb. 1. The issue will fall under the company’s up to Ps. 5 billion debt program.

Fibra Inn is a Monterrey, Mexico-based real estate investment trust specializing in hotels.

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