MEXICO CITY, March 12, 2024 — TRUST 7401, a trust formed under the laws of the United Mexican States (“NEXT Properties” or the “New Issuer“) hereby announces the termination of the four separate offers to exchange previously 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.
NEXT Properties has determined to cancel the Exchange Offers in light of recent developments in the Mexican real estate market, including our offer to enter into a joint transaction involving our industrial portfolio with Fibra Terrafina. This press release confirms the termination of the Exchange Offers.
Since the Exchange Offers have been terminated, the Total Consideration (as described in the Exchange Offer Memorandum) or Tender Consideration (as described in the Exchange Offer Memorandum), and the Cash Payment Consideration (as described in our press release dated January 25, 2024) will not be paid or become payable to Holders who validly tendered their FUNO Notes. The FUNO Notes tendered for exchange pursuant to the Exchange Offer will be promptly returned to the tendering Holders.
D.F. King & Co., Inc. is the exchange and information agent in connection with the Exchange Offers. Questions or requests for assistance related to the termination of the Exchange Offers may be directed to D.F. King & Co., Inc. to its offices located at 48 Wall Street, 22nd Floor, New York, NY 10005, USA or to (888) 626-0988 (all others, call U.S. toll-free), +1-212-269-5550 (banks and brokers, call), [email protected] (email) or www.dfking.com/funo-next.
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This announcement is for informational purposes only. This announcement shall not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any securities, nor shall there be any offer, solicitation or sale of any securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful. The Exchange Offers were made solely pursuant to the Exchange Offer Memorandum.
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The forward-looking statements contained in this press release reflect NEXT Properties’ beliefs, assumptions and expectations of NEXT Properties’ future performance, taking into account all information currently available to NEXT Properties. These beliefs, assumptions and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to NEXT Properties. Some of these factors are described in “Summary,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties” of the Exchange Offer Memorandum. If a change occurs, NEXT Properties’ business, financial condition, liquidity and results of operations may vary materially from those expressed in NEXT Properties’ forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for NEXT Properties to predict those events or how they may affect NEXT Properties. NEXT Properties disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
SOURCE NEXT Properties
