BBVA assists FUNO in the successful placement of a USD 600 Mn green bond

BBVA México congratulates Fibra Uno (FUNO) for the successful placement of a USD 600 millions unsecured Senior Green Bond on international markets, with a coupon of 7.375% and a term of 10 years.

This deal is the first green bond issued by a Mexican REIT on international markets

The deal is a milestone for the Mexican real-estate industry, as it is the first green bond issued by a Mexican REIT on international markets.

Fibra UNO has also pledged to allocate an amount equal to the issue to fund green projects  aligned with the sustainable reference framework published by the company. This issue received a rating of Baa2 from Moody’s and BBB- from Fitch.  FUNO will seek to refinance the USD 600 million bond it issued in 2014 that matures at the end of this year.  Investors showed great interest in the bond, resulting in a bid-to-cover ratio of more than 2 times.

Today; FUNO is one the largest and most diversified REITs in Mexico and Latin America.  It owns, develops and administers an extensive portfolio of properties primarily in the industrial, retail and office segments. At the end of the third quarter of 2023, it has a portfolio of 613 properties totaling more than 11 million square meters, with an occupancy rate of 94%.

Fibra Uno owns emblematic properties such as Mitikah, Torre Mayor and Torre Diana in Mexico City, Midtown Jalisco in Guadalajara and the La Isla shopping center in Cancún, Quintana Roo, among others.

BBVA is grateful to Fibra Uno for entrusting us to act as Global Coordinator to lead this transaction, with which we underscore our commitment to continue supporting socially and environmentally responsible companies.