FIBRA Prologis Recast its Sustainable Line of Credit

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Apr 27, 2023, 21:35 ET

MEXICO CITY, April 27, 2023 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), the leading owner and operator of Class-A industrial real estate in Mexico, today announced that it has recast its sustainable and unsecured line of credit of US$400 million.

FIBRA Prologis amended and restated its $400 million unsecured, sustainability-linked revolving line of credit with a syndicate of nine banks. Additionally, an accordion feature provides FIBRA Prologis with the option to increase the credit facility up to US$500 million subject to lender approval. The new credit facility has an initial maturity of April 27^th, 2026 with two one-year extensions at borrower's option, subject to the payment of an extension fee. Based on the FIBRA's rating, the current spread is 150 basis points. The spread can be adjusted +/- 2 basis points upon achievement of certain KPIs. This represents a reduction of 50 basis points from pricing in the prior line of credit.

"We are very pleased to recast this line of credit for FIBRAPL with better conditions, thanks to the strong support from our sponsor and its long-standing relationship banks," said Jorge Girault, senior Vice-President, Fund Asset Management Prologis Property Mexico. "This transaction is a testament of our commitment to the integration of environmental sustainability into the management of our business adding significant value to our stakeholders."

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of March 31, 2023, FIBRA Prologis was comprised of 225 logistics and manufacturing facilities in six industrial markets in Mexico totaling 43.6 million square feet (4.0 million square meters) of gross leasable area.

FORWARD-LOOKING STATEMENTS

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores, the "CNBV") and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release. Neither the CNBV nor any other authority has approved or disapproved the content of the information of this release, or the accuracy, adequacy or truthfulness of the information contained herein.

SOURCE FIBRA Prologis