FIBRA Mty to issue debt and securities for new acquisitions in 2023

"Considering Fibra Mty's growth plans, it is appropriate to propose to the bondholders the approval of negotiating and entering into one or more credit or financing transactions with one or more financial institutions in Mexico or abroad," it stated. The funds, it added, will be allocated for the acquisition of industrial properties, as announced last November, as well as for general corporate purposes. 

The payment terms will be up to 5 years, with the possibility of two one-year extensions, for a total of up to seven years. These operations are related to the purchase of a portfolio of 46 industrial properties for $662 million, which collectively represent 822,052 square meters of Gross Leasable Area, located in 12 relevant markets in the country. Additionally, it will propose the additional issuance of up to $690 million of real estate trust certificates (CBFIs), which can be held in the real estate trust treasury and used to settle, in whole or in part, the price of any property purchase. 

"Given Fibra Mty's growth strategy and the dynamics presented by investment opportunities in real estate assets, the additional issuance of CBFIs will be proposed to the bondholders," the company stated in its notice sent to the Mexican Stock Exchange (BMV). "This news is positive as Fibra Mty is fulfilling its inorganic growth commitments in the market, with the goal of doubling its portfolio in a single move," commented Activer Casa de Bolsa in their analysis.