📋 Tender Overview
Project Number
50506
Company Name
CORPORACION INMOBILIARIA VESTA, S.A.B. DE C.V.
Date SPI Disclosed
Jan 13, 2025
Country
Mexico
Region
Latin America and the Caribbean
Projected Board Date
Nov 27, 2024
Environmental Category
B
Status
Pending Disbursement
Last Updated Date
Department
Regional Industry MAS LAC & EUR
Industry
other
Previous Events
Approved : Nov 27, 2024
Signed: Dec 17, 2024
Sector
other
Project Description
Corporación Inmobiliaria Vesta, S.A.B. de C.V. ( Vesta ) is a leading Mexican real estate company specializing in high-quality industrial properties (IPs) and providing common infrastructure and services (energy, water, wastewater, and waste management) to tenants.
Vesta negotiated a new senior unsecured credit facility of US$ 545 million, comprising of: (i) a US$345 million in term loans and a (ii) US$200 million revolving loan. IFC contributed with US$100 million to the facility.
IFC co-structured and co-led the facility together with certain commercial banks. The financing is structured as a Sustainability-Linked Loan (SSL) with a spread reduction incentive tied to achieving specific certification objectives. The proceeds will partially fund Vesta’s 2025-2026 investment program ( the Project").
Associated Advisory Engagement
Vesta’s work with IFC under GRIP will support the reduction of GHG emissions and promote sustainable growth.
