Vesta Announces Closing of US$545 Million Global Syndicated Sustainable Credit Facility Including US$200 Million Revolving Credit Facility By Investing.com
Summary
The International Finance Corporation (IFC), BBVA (BME: ), Citigroup (NYSE: ), and Santander (BME: ) acted as Joint Lead Arrangers of the transaction.Juan Sottil, Vestas Chief Financial Officer, commented, Were pleased to have completed this new financing. It provides us with continued access to strategic liquidity reserves, at a competitive cost, as we remain focused on executing our short- and long-term initiatives aligned with Vestas Route 2030 growth plan and with our stated balance sheet guidelines to ensure Vestas continued prudent financial management. Tranche II - Five-year US $172.5 million Term Loan at the equivalent coupon of SOFR plus a 150 basis points applicable margin. Revolving Credit Facility Four-year US $200 million facility at the equivalent coupon of SOFR plus a 150 basis points applicable margin.The three tranches of the Credit Facility are subject to a sustainability pricing adjustment to the applicable margins, equivalent to a reduction of five basis points, which is subject to Vestas compliance of its annual KPI target related to the total certified gross leasable area of the Company \xb4s sustainability certified buildings.Vesta is a real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. Vesta has several world-class clients participating in a variety of industries such as automotive, aerospace, high-tech, pharmaceuticals, electronics, food and beverage and packaging.