Terrafina secures approval for new shelf registration program
Mexican industrial real estate investment trust Terrafina, which is externally advised by PGIM Real Estate, has received approval from the Mexican Securities and Banking Commission (CNBV) for shelf registration program for the issuance of its Certificados Bursátiles Fiduciarios Inmobiliarios and long-term Certificados Bursátiles Fiduciarios (the Program).
The Program was approved by the CNBV for up to MXN25 billion and applies to any future equity and/or debt issuances during the next five years.
One of the benefits of the Program, compared to traditional issuances, is that Terrafina, which focuses on the acquisition, development, lease and management of industrial real estate properties in Mexico. will be able to access public markets in a more expedited and efficient manner, thus reducing costs and processing times.