Vesta Successfully Closes Inaugural US$ 350 Million Sustainability-Linked Bond Transaction

MEXICO CITY, May 13, 2021 /PRNewswire/ -- Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta") (BMV: VESTA), one of the leading pure play industrial real estate developers in Mexico, today announced the successful closing of its inaugural Sustainability-Linked Bond offering, placing US$ 350 million in 10-year sustainability-linked notes at a 3.625% interest rate. The issuance, received a credit rating of BBB- by S&P Global Ratings and Baa3 from Moody´s. As the first Real Estate company to issue a Sustainability-Linked bond out of Latin America, and Mexico's first Real Estate company rated as Investment Grade by S&P, today's news affirms Vesta's leadership in the sector.

Lorenzo Dominique Berho, Chief Executive Officer of Vesta, commented: "Our successful execution of Vesta's first Sustainability-Linked Bond represents another important milestone for our Company, and aligns Vesta's long-standing commitment to sustainability with our Level 3 Strategic Plan." He continued, "We closed the bond with a broad range of truly outstanding global investors, which is further affirmation of the financial community's continued confidence in our financial strength, strategy and ability to deliver on our objectives. With this public global offer we have the best in class capital structure in the real estate industry to drive our Company's future growth in today's exciting market environment."

The net proceeds from this issuance will be used to prepay existing debt, extending the Company´s maturity profile with no major amortizations until 2026. The transaction was announced in tandem with Vesta's inaugural Sustainability-Linked Bond Framework which was verified by third party DNV Business Assurance, an independent expert in assurance and risk management, and establishes key targets with respect Gross Leasable Area ("GLA"), a KPI crucial to the Company's strategic priorities.

About 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 March 31, 2021, Vesta owned 189 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 31.6 million ft² (2.93 million m²). The Company has multinational clients, which are focused in industries such as consumer retail, aerospace, automotive, food and beverage, logistics, medical devices and plastics, among others. For more information visit:  www.vesta.com.mx 

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SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.