Lenders Make Historic Bank Loan to Latin American Real Estate Company

July 30, 2015

New York, NY – Paul Hastings LLP, a leading global law firm, represented the lenders in the largest bank loan ever to a Latin American real estate company. Paul Hastings’ clients Santander, Bank of America Merrill Lynch, Credit Suisse, BBVA, Itaú BBA, Goldman, Sachs & Co. and HSBC extended to Fibra Uno, the largest real estate company in Latin America, an approximately US$850 million revolving credit facility, the largest real estate loan ever granted in Latin America. The credit agreement contains an accordion feature that allows for an increase in the borrowings of up to 50% for a total amount of more than US$1.2 billion.

Paul Hastings attorneys also represented the initial purchasers in Fibra Uno’s historic IPO in 2011, its initial follow-on offering in 2012, a subsequent follow-on offering in 2013, its inaugural international debt offering in 2014 and a subsequent follow-on equity offering in 2014. After its IPO, Fibra Uno became the first Real Estate Investment Trust (REIT) in Latin America and the first Mexican REIT to be utilized in the wake of a comprehensive legal overhaul in Mexico that created the “FIBRA”, a new Mexican investment vehicle, which bears many similarities to the U.S. REIT.

Latin America practice partners Joy Gallup and Mike Fitzgerald led the Paul Hastings team, which also included associate Todd Schmid. Tax associate David Makso also advised on tax issues.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.