By Lisa Kerner
Charlotte, N.C., June 28 – Fibra Macquarie Mexico issued $250 million of seven-year 5.55% notes to a consortium of U.S. insurance companies.
It is the first time this type of unsecured funding has been accessed by a Mexican Fibra, according to a company news release.
Closing is expected to occur on Thursday.
The notes are part of a $685 million refinancing program that includes a $435 million unsecured bank credit facility that was oversubscribed and upsized.
“With the signing of these agreements we have taken an important step toward both strengthening our balance sheet and increasing our financial flexibility,” chief executive officer Juan Monroy said in the news release.
Fibra Macquarie said it will continue evaluating opportunities to access the long-term, fixed-rate unsecured debt markets to repay amounts outstanding under the revolving credit facility and further increase liquidity.
The real estate investment trust is based in Mexico City.
| Issuer: | Fibra Macquarie Mexico
|
| Issue: | Notes
|
| Amount: | $250 million
|
| Coupon: | 5.55%
|
| Maturity: | Seven years
|
| Distribution: | Private placement
|
| Announced: | June 28
|
| Settlement: | June 30
|
| Purchasers: | Consortium of U.S. insurance companies
|
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