Rubio Leguía Normand assists Credicorp on $25.8m notes offering
Rubio Leguía Normand has advised FIBRA Credicorp on the operation
Rubio Leguía Normand has advised Fideicomiso de Titulización para Inversión en Renta de Bienes Raíces – FIBRA Credicorp on a 25.8m notes offering. Credicorp Capital Asset Management creates its FIBRA in August as is the first step towards fundraising over $100 million.
The FIBRAs (Spanish for Real Estate Investment Trusts) are a new investment mechanism in the Peruvian market. They acquire Real Estate to produce leases. Mexico (2004) and the United States (1960) were the pioneers of this kind of operations. The FIBRAs have the aim of increasing the supply of investment instruments in Peru, and it is estimated that they will boost the real estate market. Likewise, it is expected to attract retail, institutional, qualified real estate investors, Peruvian and Chilean family offices, among others.
Rubio Leguía Normand team was led by partners Jeanette Aliaga (pictured left) and Franco Soria (pictured right), and involved senior associate Wilfredo Cáceres and associates Luis Miguel Garrido and Rubén Quevedo Meléndez.
Credicorp Capital Servicios Financieros was advised by EY Law.
