VESTA ANNOUNCES US$200 MILLION SUSTAINABILITY LINKED REVOLVING CREDIT FACILITY
MEXICO CITY, Sept. 1, 2022 /PRNewswire/ -- Vesta Real Estate Corporation, S.A.B. of C.V. ("Vesta") (BMV: VESTA), one of the leading industrial real estate companies in Mexico, today announced a new US$200 million sustainability linked revolving credit facility with various financial institutions.
The committed three-year unsecured revolving credit line has an interest rate of SOFR +160 basis points and includes a target regarding the number of Green Building Certifications associated with the Company's Gross Leasable Area ("GLA"). This remains a crucial KPI for Vesta's long-term strategic priorities, also aligned to the Company's sustainability linked Public Bond which was issued in 2021.
"This new transaction represents a significant milestone for our Company as another step to further integrate ESG into the core of our business, aligned with our Level 3 Strategic Plan, strengthening our Company´s financial position and providing Vesta with important balance sheet flexibility," said Lorenzo Dominique Berho, CEO of Vesta.
Vesta is a best-in-class, fully integrated real estate company that owns, manages, acquires, sells, develops and re-develops industrial properties in Mexico. As of June 30, 2022, Vesta owned 193 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 32.1 million ft2 (2.98 million m2). The Company has multinational clients, which are focused on industries such as e-commerce/retail, aerospace, automotive, food and beverage, logistics, medical devices, and plastics, among others. For additional information visit: www.vesta.com.mx
SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.
Released September 1, 2022