BBVA participates in a USD400 million revolving credit rollover for Fibra Prologis

BBVA México is pleased to announce the successful closing of a deal to roll over a revolving syndicated loan to Fibra Prologis in the amount of USD400 million, which will be used to purchase and build real-estate properties.

Fibra Prologis, rated BBB from Fitch and BBB+ from HR Ratings, is an industrial real-estate investment trust that mandates 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.

This revolving line will be useful for Fibra Prologis as it pursues its growth plan, permitting it to absorb rising demand from nearshoring in Mexico.

BBVA México participated in the deal as joint bookrunner with a final take of USD50.75 million at a term of 3 years with two optional extensions of one year each.

Fibra Prologis is working on linking the credit to two sustainability indicators: LEED or BOMA certification, and LED lighting per square meter.

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