FIBRA Prologis’ $70 Million Green Bond Offering

???????Gonzalez Calvillo advised FIBRA Prologis in the offering.

FIBRA Prologis executed its second offering and placement of a USD denominated “Green Bond” in the Mexican Stock Exchange, registered before the National Banking and Securities Commission (CNBV).

The transaction consisted of the second issuance of Long Term Trust Certificates (Certificados Bursátiles Fiduciarios de Largo Plazo) under a Multi-Value Program for an amount of USD$70’000,000 due in 2031, which obtained AAA ratings from Fitch Mexico and HR Ratings and a coupon of US Treasury plus 2.10 (fixed interest rate).

Banco Actinvr acted as Issuer Trustee, the bookrunners for the offering were Casa de Bolsa BBVA and Scotiabank, and Monex Casa de Bolsa acted as common representative of the holders.

In this transaction, Sustainalytics (leading independent global provider of ESG and corporate governance research and ratings to investors), acted as the sustainable advisor that issued the “Second Party Opinion” on ESG.

This offering represented an over demand for the certificates of 1.43 times and represents the second debt issuance of FIBRA Prologis in the Mexican securities market in the last 6 months, with a total aggregate amount of USD$445’000,000. The green bond previously placed by FIBRA Prologis in December last year, represented the first in its type in the history of Mexico.

FIBRA Prologis is a leading Mexican real estate investment trust formed to acquire, own and manage Class-A industrial real estate in Mexico. 

Gonzalez Calvillo advised FIBRA Prologis with a team including Bernardo Reyes Retana K. (lead partner; Picture), José Víctor Torres (partner), Francisco Álvarez (associate), Diego Hernández Abascal (associate), and Pamela Suárez Arroyuelo (law clerk).

Involved fees earner: Francisco Álvarez – Gonzalez Calvillo Abogados; Diego Hernández Abascal – Gonzalez Calvillo Abogados; José Víctor Torres – Gonzalez Calvillo Abogados; Bernardo Reyes Retana – Gonzalez Calvillo Abogados;

Law Firms: Gonzalez Calvillo Abogados;

Clients: FIBRA Prologis;