- During the first investment round for current investors, 59,218 securities, equivalent to USD 195 millions, were awarded.
- The second round, targeting the general market, received offers for 73,858 equity units equivalent to USD 243 millions, 3.98 times the remaining available demand.
- 1,070 new investors, including retail, institutional, natural and legal persons, were incorporated.
BOGOTÁ, Colombia–(BUSINESS WIRE)–Pei, the leading real estate investment vehicle in Colombia, managed by Pei Asset Management, successfully closed the eleventh issuance of its Participatory Securities Issuance Program (Programa de Emisión de Títulos Participativos), for a value of USD 256 millions, equivalent to 77,773 securities.
During the first round, held between June 17th and 18th, holders of REITs on the date of publication of the offer notice, exercised their right of preference and a demand for 59,218 TEIS for USD 195 millions were registered.
The second round took place between June 19th and 20th, during which the remaining securities available after the first round were offered to the market for an amount equivalent to USD 61 millions and for which orders for USD 243 millions were received, and over demand of 3.98 times the available capacity. This demand confirms the interest generated by this investment vehicle in the market for more than 10 years ago.
After the XI securitization was completed, 1,070 new investors were registered, allowing Pei to consolidate a total of 4,646 investors including: pension funds, insurance companies, legal persons, other institutional investors and natural persons. This number reflects Pei’s commitment to offer access to this investment alternative to a greater number of investors.
“Pei ratifies its leadership and strength in the market by placing the largest issuance we have structured in our 12-year trajectory. So far, Pei strengths its leadership in the Colombian real estate investment industry and continues to consolidate as an investment vehicle that establishes long-term relationships with investors and lessees,” said Jairo Corrales, President of Pei Asset Management.
In addition, in the eleventh tranche of its Participatory Securities Issuance Program (Programa de Emisión de Títulos Participativos) Pei received requests for USD 438 millions, on an offered amount of USD 256 millions, with a bid to cover of 1.71x: the results reinforce the leadership of the vehicle in the Colombian market.
This offer was issued and placed through the Colombian Stock Exchange and included 37 assets, located in various cities around the country with a leasable area of approximately 150,000 m2 including commercial and corporate assets and warehouses, all with long-term lease agreements.
Pei is the leading real estate investment vehicle in Colombia, internationally renowned, offering investors a profitable, liquid and stable alternative.
Pei is an investment tool that allows persons to invest in the real estate sector safely, under professional management and with the confidence of a 12-year trajectory in the market.
It is also a strategic partner for its lessees, providing solutions to their long-term real estate needs through a diversified asset portfolio, with high specifications and added values.
- Pei is listed in the Colombian Stock Exchange.
- Pei securities have the highest rating granted by BRC Standard & Poor’s: i-AAA.
ABOUT PEI ASSET MANAGEMENT
PEI Asset management is Pei’s real estate manager.
It has a team of experts that have the main goal of optimizing the value of the assets that comprise the vehicle’s portfolio, to achieve an attractive profitability transferred to the investors.
It has the highest Portfolio Management Efficacy Rating issued by BRC Standard & Poor’s.
The figures of this communication were taken with a exchange rate of June 25th, 2019: COP 3,191.
Natalia Romero C.
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