Mexico City, July 27, 2021 – Terrafina (”TERRA”) (BMV: TERRA13) a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease and management of industrial real estate properties in Mexico, announced today the successful execution of a new syndicated US$485 million sustainability credit facility comprised of an unsecured revolving credit facility for an amount of US$300 million and an unsecured term loan for an amount of US$185 million, due in July 2026. This new facility will replace the existing revolving credit facility (US$300 million) and term loan (US$179 million), which mature in January 2023 and October 2022, respectively.
This achievement was the result of the coordinated work with PGIM Real Estate to continue improving the cost of financing while strengthening Terrafina’s roster of lenders and its ESG position in the industrial real estate sector.
The new facility is linked to a sustainability KPI (“square feet certified as green building”), which is in line with Terrafina’s recently announced ESG goal of certifying 15% of its portfolio’s GLA by 2030. As an added benefit, the new credit facility enjoys a lower cost of debt (up to 45 basis points lower), as well as the extension in Terrafina’s weighted average debt maturity.
Alberto Chretin, CEO of Terrafina, commented: “We are excited about integrating our sustainability principles into Terrafina’s capital structure, while also improving our debt profile. This will have a positive impact on both the operation and our financial results. As we continue to make progress in implementing and executing our ESG strategy, it is crucial to strengthen our leadership in the industry. By taking this step, we further commit to drive positive change through a sustainable financing structure, which sets the path for future breakthroughs.”
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For more information please visit www.terrafina.mx/en or contact:
Francisco Martínez
Investor Relations Officer
Phone: +52 (55) 5279-8107
E-mail: francisco.martinez@terrafina.mx
Ana María Ybarra
Miranda IR
Phone: +52 (55) 3660-4037
E-mail: ana.ybarra@miranda-ir.com