Fibra Storage, a real estate investment trust dedicated to the leasing of mini-warehouses in Mexico, raised 1,500 million pesos with the inaugural issuance of green bonds, thus becoming the second Reit to make this type of placements.

The company issued the bonds in two tranches. One for 1,171 million pesos, for a seven-year term and at a fixed interest rate of 8.64%, which was 2.29 percentage points above the M Bond Rate.

The second was for 329 million pesos with a term of four years, which will pay a yield of 1.5 percentage points with respect to the reference interest rate.

It may interest you: Industrial Reits with the best performance on the Stock Market

The resources, Fibra Storage said in a presentation to investors, will be used "mainly to refinance debt, as well as to develop and acquire properties."

The green bonds received an “AA” credit risk rating, with an investment scale by HR Ratings and Fitch México, given their “very” low default level.

Reit has a framework of green bonds and among the objectives from 2021 to 2025 is to promote the consumption of renewable energy, generating 40% of the energy consumed by its properties through a photovoltaic system.

We recommend: Fibra MTY invests 2,000 million pesos in the acquisition of two properties

In April it announced its first investment of the year in a property located in Mexico City, for which it will disburse 10.3 million pesos in a period of 12 months.

Storage said that "the construction of the mini-warehouses will be paid for through the issuance of 436,650 real estate trust certificates (CBFIs) that it has in its treasury."

Do you want to know the offer of industrial space in Tepotzotlán? It is one of the most important corridors in the Mexico City market. Enter Solili to check it.

 Read the complete article