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31 December 2024

BBVA acts as Sustainable Agent, Joint Bookrunner and Joint Lead Arranger in Vesta’s sustainable syndicated loan for 545 million dollars

   

BBVA acted as Sustainable Agent, Joint Bookrunner and Joint Lead Arranger in a financing deal for Corporación Inmobiliaria Vesta S.A.B. de C.V., one of Mexico’s leading industrial real-estate operators, for a total of USD545 million.

     

The syndicated loan is divided into two long-term tranches (at 3 and 5 years) totaling USD345 million, and a revolving line of USD200 million, which replaces an existing credit line. Twelve financial institutions participate in the transaction, and BBVA’s final take was USD75 million.

     

The financing was labeled sustainable because it contains certain ESG-related KPIs involving sustainable certifications for the properties in its portfolio. Corporación Inmobiliaria Vesta is a leading developer and lessor of industrial properties and distribution centers in Mexico. It currently has 221 properties with a total GLA of 3.6mn m², located in Mexico’s most important industrial corridors.

     

We thank Vesta for inviting us to participate in and lead this important deal, which underscores our commitment to continuing to support companies that work for Mexico’s sustainable growth and development.