Mexican hotel real estate investment trust Fibra Inn raised 2.00 billion Mexican pesos in a 1.44x oversubscribed offering of unsecured debt certificates issued at a fixed rate of 9.93%.

The certificates, with the ticker FINN18, have a 10-year maturity due and are due Feb. 2, 2028, according to a release.

Meanwhile, the REIT used roughly 1.88 billion pesos from the funds raised to repurchase 18,753,500 of the FINN15 securities, which were issued in September 2015 and are scheduled to mature in 2021. Following the repurchase, the tender offer amounts to 1.00 billion pesos, taking the total amount of the two issuances to a total of 3.00 billion pesos.

The remaining 124.7 million pesos will be used to finance expenses related to the debt offering and the repurchase of securities, the payment of coupon on the repurchased securities and for general corporate purposes.

As of Feb. 23, US$1 was equivalent to 18.57 Mexican pesos.