BBVA assists Fibra Prologis in its follow-on offering for MXN7.12 billion ¡on the Mexican Stock exchange

BBVA México is pleased to announce a successful follow-on offering of MXN7.12 billion on the Mexican Stock Exchange.

Fibra Prologis placed 105,000,000 trust-backed securities certificates, or CBFIs, at a price of 59 Mexican pesos each, a discount rate of -4.4% compared to the price on the day prior to book closing on May 3 of this year.

The CBFIs were placed among the investing public in Mexico and internationally among qualified institutional investors under rule 144A. The offering was met by an enthusiastic response, with a bid-to-cover ratio of 1.5 times; the CBFIs were placed among investors.

The proceeds will be used to fund the acquisition of industrial properties developed by Prologis and others, as well as for general corporate purposes, including potential future acquisitions and the repayment of existing det.

Fibra Prologis, rated BBB by Fitch and BBB+ by HR Ratings, is an industrial real-estate investment trust that manages 225 properties in six strategic Mexican cities: Tijuana, Guadalajara, Ciudad Juárez, Reynosa, Monterrey and Mexico City.  At the close of 2022 it reported an occupancy rate of 98.9%, with more than 242 tenants diversified in industries like automotive, machinery, electronics, logistics, pharmaceuticals, etc.

We are grateful to Fibra Prologis for inviting us to participate in this successful transaction as Active Joint Bookrunner, with which we reiterate our commitment to continuing to support companies that work for Mexico’s growth and development.