Fibra Inn engages Holland & Knight for debt offering
Holland & Knight has advised Mexican hotel real estate trust Fibra Inn on its recent 1.2-billion-peso ($62.5 million) debt offer, early voluntary 1-billion-peso payment (plus 4.4 million pesos in interest), which included the restructuring of its remaining debt.
Fibra Inn was established to acquire, develop, operate and rent a broad range of hotel properties in Mexico. The company has a portfolio of high-quality real estate properties throughout Mexico for business travelers.
The funds applied towards the early payment of the company’s FINN15 issuance were obtained from its new FINN18 debt offer, which took place on October 11. The remaining balance will be allocated towards existing hotels that comprise Fibra Inn’s current portfolio. With this new placement, Fibra Inn restructured its remaining debt by moving the principal payment deadline from September 2021 to February 2028 and improving the financial conditions of the refinanced amount, at a weighed fixed interest rate of 8.87 per cent.
Holland & Knight Mexico City-based partner Guillermo Uribe Lara (pictured), senior counsel Adrian Gay Lasa and associates Jorge E. Gonzalez Carlini, Mirna Ordaz and Santiago Soldevilla advised Fibra Inn on the series of transactions.
