By Rebecca Melvin
Concord, N.H., May 4 – Fibra Prologis has raised $370 million through green debt, including a $300 million green U.S. private placement of senior notes and a $70 million-equivalent green bond offering of long-term trust certificates, according to a company press release on Tuesday.
The U.S. private placement notes have a weighted average interest expense of 3.65%, including the estimated corresponding withholding tax.
The senior unsecured notes bear interest at about 3.73%.
The proceeds of both transactions will be used to repay term loans that are due in 2023 and 2024 and pay down borrowings on the company’s line of credit used to finance its eligible green project portfolio.
Jorge Girault, senior vice-president, Fund Asset Management Prologis Property Mexico, of Fibra Prologis, said the transactions open new possibilities for the company in the capital markets and improve its financing options.
Based in Mexico City, Fibra Prologis owns and operates class A industrial real estate in Mexico.
| Issuer: | Fibra Prologis
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| Description: | Green debt
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| Amount: | $300 million
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| Announcement date: | May 4
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| U.S. private placement
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| Amount: | $300 million
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| Issue: | Green senior notes
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| Interest expense: | 3.65%
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| Trust certificates
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| Amount: | $70 million equivalent
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| Issue: | Green long-term trust certificates
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| Interest expense: | 3.73%
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