FHipo $170 Million Follow-On Offering

Davis Polk advised the initial purchasers in connection with the offering by Fideicomiso Hipotecario (FHipo) of 120,000,000 trust certificates (CBFIs) consisting of (i) a public offering in Mexico of 79,834,668 CBFIs and (ii) an international offering of 40,165,332 CBFIs in the United States and other countries outside Mexico pursuant to Rule 144A and Regulation S.

FHipo is the first Mexican mortgage REIT and is externally advised by Concentradora Hipotecaria, S.A.P.I. de C.V., which was formed by professionals with extensive experience and knowledge in the mortgage industry in Mexico to act as FHipo’s advisor and manager. FHipo’s portfolio consists of co-participation interests in mortgage loans originated by Infonavit, a Mexican federal government entity and one of the largest mortgage lenders in Latin America.

The Davis Polk corporate team included partner Maurice Blanco and associate Elliot M. de Carvalho. Partner Po Sit and associate Dao Fu provided tax advice. Associate Jake H. Wang provided 1940 Act advice. Members of the Davis Polk team are based in the New York and São Paulo offices.