FIBRA Macquarie México announced the closing of two sustainability-linked unsecured credit facilities with Banco Nacional de Comercio Exterior, S.N.C., I. B.D. and Banco Mercantil del Norte, S.A., I.B.M., Grupo Financiero Banorte (“Banorte”) for USD 150 million and USD 100 million, respectively. Proceeds have been used to prepay the USD 250 million private placement notes that were scheduled to mature on June 30, 2023. These new facilities extend maturities for five years and incorporates a green building certification goal, while significantly increasing the sustainability and green financing linked portion of drawn debt, from 30.0% to 58.2%.

FIBRA Macquarie also entered into interest rate swaps to cover 100% of the notional amounts of the new loans. Fixed-rate debt represents 95.7% of total debt outstanding. FIBRA Macquarie’s cost of funding has been reduced to 5.5% per annum, whilst debt tenor has increased to now be approximately 4.6 years.

FIBRA Macquarie entered into a USD 150 million sustainability-linked unsecured term loan with Bancomext. The non-amortizing facility has a five-year term and will bear interest at a variable rate of 90-day term SOFR plus a credit spread of 185 basis points per annum. Taking into account the associated interest rate swap, the all-in fixed-rate cost of debt is 5.7% per annum.

In addition, the facility features an ESG KPI credit spread adjustment of +/- 5 basis points per annum. USD 100 million five-year sustainability-linked unsecured credit facility with Banorte. FIBRA Macquarie entered into a USD 100 million sustainability-linked unsecured term loan with Banorte.

The non-amortizing facility has a five-year term and will bear interest at a variable rate of 90-day term SOFR plus a credit spread of 195 basis points per annum. Taking into account the associated interest rate swap, the all-in fixed-rate cost of debt is 5.8% per annum. In addition, the facility features an ESG KPI credit spread adjustment of +/- 5 basis points per annum.