Fibra Plus and Fibra HD Sign Syndicated Loan for $4.5 Billion Pesos

These funds will be used to pay existing liabilities and finance the acquisition of productive assets. "The formalization of this syndicated loan is a positive signal of the financial sector's confidence in the vision and business strategy of Fibra HD and Fibra Plus and is part of the expected synergies from the combination of their businesses," stated the Board of Directors of Fibra HD in a press release. 

In a market announcement, it was detailed that the loan will also enable the timely refinancing of their bonds with favorable terms and maintain healthy debt indicators. The repayment will be allocated to the Fibra HD 19 bond, with an amount of 1,388 million pesos, which is due to mature on November 24, 2022, as disclosed. 

On the other hand, Fibra Plus informed that the resources will be used to finance the acquisition of productive assets, pay Fibra HD's bonds, and improve the debt profile of the trusts. BBVA Mexico acted as the placement agent, and the operation also involved Banco Nacional de Comercio Exterior (Bancomext), Nacional Financiera (Nafin), and Banco del Bajío. Both Fibra Plus and Fibra HD assured in their statements that the loan was negotiated under favorable market conditions and had oversubscription.

Fibra Plus acquired 70.9% of the outstanding share capital of Fibra HD, a real estate company with assets in the industrial, corporate, commercial, and educational sectors, in a transaction completed on October 14, 2021. The merger of these two REITs represents the first operation of its kind in the Mexican real estate sector.