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Clifford Chance Guides Mobiliare on Landmark Latin American Real Estate Debt Issuance

Published: November 15, 2025 | Category: Real Estate
Clifford Chance Guides Mobiliare on Landmark Latin American Real Estate Debt Issuance

Global law firm Clifford Chance has successfully advised Mobiliare Latam, S.A. and Mobiliare Latam México, S.A. de C.V., as co-issuers, on a debut Rule 144A/Reg S issuance of US$500 million aggregate principal amount of 6.750% Notes due 2032. These notes are guaranteed by subsidiaries of Mobiliare operating across several Latin American jurisdictions.

Mobiliare is a prominent Latin American real estate company with active operations in Guatemala, Peru, Mexico, Costa Rica, El Salvador, Colombia, Ecuador, Honduras, and Nicaragua. This issuance, which is the largest by a Latin American real estate C-Corp in over a decade, positions Mobiliare as the first multi-country Latin American real estate platform to access the international debt capital markets.

The transaction was led by Clifford Chance partner Hugo Triaca, with support from associates Joyce Moore and Agata Radajczyk, as well as foreign law clerks Casilda Caso and Camila Munive. Additional expertise was provided by:

- ‘40 Act: Partner Jefferey LeMaster and associates Emily Picard and Jillian Leavey - Tax: Partner Avrohom Gelber and associate Wei Bin Tan - ERISA: Associate Thomas Koh

Clifford Chance has a robust track record of advising on similar transactions in the region. Recent notable engagements include the debut notes issuance by Threelands Energy and the debut international notes offering by Peruvian electricity company Luz del Sur.

This milestone underscores Mobiliare's strategic growth and the firm's commitment to expanding its presence in the Latin American real estate market. The successful issuance not only enhances Mobiliare's financial flexibility but also solidifies its position as a leading player in the region.

Clifford Chance's comprehensive legal support and expertise were crucial in navigating the complex regulatory landscape and ensuring the smooth execution of the transaction. This achievement highlights the firm's dedication to delivering high-quality legal services and its ability to handle sophisticated cross-border transactions.

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Frequently Asked Questions

1. What is the significance of Mobiliare's debut notes issuance?
Mobiliare's debut notes issuance of US$500 million is significant because it is the largest by a Latin American real estate C-Corp in over a decade and marks the first time a multi-country Latin American real estate platform has accessed the international debt capital markets.
2. Who led the Clifford Chance team advising on the transaction?
The Clifford Chance team advising on the transaction was led by partner Hugo Triaca, with support from associates Joyce Moore and Agata Radajczyk, and foreign law clerks Casilda Caso and Camila Munive.
3. What other areas of expertise were involved in the transaction?
In addition to the main team, expertise in ‘40 Act, Tax, and ERISA was provided by partners and associates from Clifford Chance, including Jefferey LeMaster, Avrohom Gelber, and Thomas Koh.
4. What are some recent similar transactions Clifford Chance has advised on?
Clifford Chance has recently advised on the debut notes issuance by Threelands Energy and the debut international notes offering by Peruvian electricity company Luz del Sur.
5. How does this issuance benefit Mobiliare?
This issuance enhances Mobiliare's financial flexibility and solidifies its position as a leading player in the Latin American real estate market by providing access to international capital markets.