FIBRA Prologis, a leading owner and operator of Class-A industrial real estate in Mexico, today announced the recast of its unsecured sustainable credit facility with improved terms and increased capacity and the execution of a new term loan that enhances its debt maturity profile.
The recast credit line has increased from US$400 million to US$500 million, with an accordion feature that allows for an expansion of up to US$1 billion, subject to lender approval. The facility has an initial maturity of May 29, 2028, with two optional one-year extensions. Pricing under the facility, which is variable based on the company’s credit rating, is currently 125 basis points over the applicable benchmark rate. Additional terms include KPI-based pricing adjustments of ±2 basis points and an unused commitment fee of 25 basis points, which represents a 5 basis point improvement over the previous facility.
The company also secured a US$300 million term loan, with a one-year term extendable for up to two additional years. It carries the same 125 basis point spread and will be used to refinance existing short-term debt, enhancing the company’s maturity profile.
“With this new financing structure, we reaffirm our commitment to prudent financial management by strengthening both our balance sheet and liquidity to support our long-term growth strategy,” said Jorge Girault, CFO of FIBRA Prologis. “I’m truly grateful for the support of the financial institutions involved. We believe their continued trust reflects confidence in the strength and future of our business.”
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