NEXT Properties - Exchange Offer - Early Results

NEXT Properties announces early tender results of its debt exchange offers for four series of Fibra Uno's senior unsecured notes.

28 NOVEMBER 2023

Full announcement including disclaimers and offer restrictions available via Prnewswire: Source: NEXT Properties

"MEXICO CITY, Nov. 28, 2023 /PRNewswire/ -- TRUST 7401, a trust formed under the laws of the United Mexican States ("NEXT Properties" or the "New Issuer") hereby announces the early tender results of the four separate offers to exchange announced on November 13, 2023 for four series of currently outstanding senior notes issued by Trust 1401, a trust formed under the laws of the United Mexican States ("Fibra Uno") for new senior notes to be issued by NEXT Properties, upon the terms and subject to the conditions set forth in the exchange offer memorandum dated November 13, 2023 (the "Exchange Offer Memorandum"). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Exchange Offer Memorandum.

The Early Tender Date for the Exchange Offers occurred at 5:00 p.m., New York City time on November 27, 2023. As of the Early Tender Date, the following amounts had been properly tendered and not withdrawn by series of FUNO Notes, and provided that all conditions set forth in the Exchange Offer Memorandum are met (including General Conditions and the condition that Trust 2401, a Mexican Trust, also known as Fibra NEXT, consummate its initial public offering, as described further under the "Conditions of the Exchange Offers" section in the Exchange Offer Memorandum) shall be accepted by the New Issuer, with Eligible Holders (as defined below) receiving the Total Consideration:

Provided that the conditions set forth in the Exchange Offer Memorandum are met (including General Conditions and the condition that Trust 2401, a Mexican Trust, also known as Fibra NEXT, consummate its initial public offering, as described further under the "Conditions of the Exchange Offers" section in the Exchange Offer Memorandum), and subject to the Maximum Exchange Amount for each Exchange Offer, the New Issuer expects to issue the New Notes in exchange for FUNO Notes tendered and accepted for exchange in the Exchange Offers on or around December 4, 2023 (the "Early Settlement Date"). As described above, Eligible Holders who have validly tendered (and not validly withdrawn) their FUNO Notes on or prior to the Early Tender Date and whose FUNO Notes are accepted for exchange by the New Issuer on the Early Settlement Date, will receive the Total Consideration, which includes the Early Tender Premium.

Since the principal amount tendered for each Exchange Offer has exceeded the Maximum Exchange Amount for such Exchange Offer, the New Issuer will accept the FUNO Notes tendered as follows: (1) with respect to FUNO 2026 Notes, based on a proration factor of approximately 86.49%, (2) with respect to FUNO 2030 Notes, based on a proration factor of approximately 66.40%, (3) with respect to FUNO 2044 Notes, based on a proration factor of approximately 85.44%, and (4) with respect to FUNO 2050 Notes, based on a proration factor of approximately 69.80%.

Consequently, subject to satisfaction of the conditions set forth in the Exchange Offer Memorandum (including General Conditions and the condition that Fibra NEXT consummates its initial public offering, as described further under the "Conditions of the Exchange Offers" section in the Exchange Offer Memorandum), the tendered FUNO Notes will be exchanged into New Notes as follows: (1) with respect to the U.S.$ 400,000,000 of FUNO 2026 Notes tendered and accepted subject to the 2026 Maximum Exchange Amount, U.S.$400,000,000 Senior Notes denominated in Dollars, maturing on January 30, 2026 with a coupon of 5.250% to be issued by the New Issuer, (2) with respect to the U.S.$387,500,000 of FUNO 2030 Notes tendered and accepted subject to the 2030 Maximum Exchange Amount, U.S.$387,500,000 Senior Notes denominated in Dollars, maturing on January 15, 2030 with a coupon of 4.869% to be issued by the New Issuer, (3) with respect to the U.S.$350,000,000 of FUNO 2044 Notes tendered and accepted subject to the 2044 Maximum Exchange Amount, U.S.$350,000,000 Senior Notes denominated in Dollars, maturing on January 30, 2044 with a coupon of 6.950% to be issued by the New Issuer, and (4) with respect to the U.S.$437,500,000 of FUNO 2050 Notes tendered and accepted subject to the 2050 Maximum Exchange Amount, U.S.$437,500,000 Senior Notes denominated in Dollars, maturing on January 15, 2050 with a coupon of 6.390% to be issued by the New Issuer. The New Notes will be issued in minimum denominations of U.S.$200,000 and in integral multiples of U.S.$1,000 in excess thereof."

...

---

NEXT Properties announces debt exchange offers for four series of Fibra Uno's senior unsecured notes

13 NOVEMBER 2023

Full announcement including disclaimers and offer restrictions available via Prnewswire: Source: NEXT Properties

"MEXICO CITY, Nov. 13, 2023 /PRNewswire/ -- TRUST 7401, a trust formed under the laws of the United Mexican States ("NEXT Properties" or the "New Issuer") hereby announces the commencement of the following four separate offers to exchange four series of currently outstanding senior notes, as described below, issued by Trust 1401, a trust formed under the laws of the United Mexican States ("Fibra Uno") for new senior notes to be issued by NEXT Properties, upon the terms and subject to the conditions set forth in the exchange offer memorandum dated November 13, 2023 (the "Exchange Offer Memorandum"):"

...

"The following table sets forth certain material terms of the Exchange Offers:"

...