FIBRA Prologis Refinances US$370 million through a Green Private Placement

FIBRA Prologis raises $370M in green financing, strengthening their balance sheet. Photo: Prologis

05/04/2021

FIBRA Prologis announced today that it raised $370 million through a $300 million green US Private Placement of senior unsecured notes ("USPP") and a $70 million equivalent green bond offering of Long Term Trust Certificates. The USPP have a weighted average interest expense, including the estimated corresponding withholding tax, of approximately 3.65% per annum and are senior, unsecured obligations of FIBRAPL. The Notes bear interest of approximately 3.73% per annum and are also senior, unsecured obligations of FIBRAPL. The net proceeds from both transactions will be used to repay term loans due in 2023 and 2024 and reduce outstanding borrowings on FIBRAPL's line of credit used to finance our "Eligible Green Project Portfolio." Jorge Girault, Senior Vice-President of Fund Asset Management at Prologis Property Mexico, expressed gratitude for the trust placed in them by Mexican and international investors. The refinancing opens up new possibilities in the capital markets, attracting new international investors to Mexico and enhancing the execution of their financing options.

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