About Fibra Uno (FUNO)
Fibra Uno (FUNO) is a leading real estate company in Latin America, known for its commitment to sustainability and innovation. The company has established itself as a trusted name with a long-term vision, consistently delivering on its promises.
Details of the Bond Issuance
FUNO successfully issued a sustainability-linked bond worth 12,700 million pesos, demonstrating the confidence investors have in Mexico’s solid foundation and immense potential. The initial offering of 7,500 million pesos was oversubscribed by 2.55 times, allowing for an additional 5,200 million pesos to be raised.
Bond Structure
- 3,700 million pesos at TIIE Fondeo + 125 bps, maturing in May 2028.
- 9,000 million pesos at a fixed rate MBONO + 225 bps, maturing in May 2032.
Impact and Sustainability Commitment
This bond issuance reinforces FUNO’s unwavering commitment to best financial practices and marks a significant milestone in the evolution of sustainable financing in Mexico. The entire proceeds will be used for the early refinancing of FUNO 15 and FUNO 21-2X bonds, making this transaction debt-neutral and extending the debt profile of the trust significantly.
The bond issuance is directly linked to FUNO’s ambitious goal of certifying at least 26.6% of its portfolio under international LEED and EDGE standards by 2027. This action underscores FUNO’s dedication to sustainability, turning words into verifiable actions. These certifications evaluate and promote the construction of energy-efficient and water-saving buildings, as well as environmentally friendly waste management practices. This goal aligns with FUNO’s roadmap to achieve a Carbono Cero portfolio by 2050.
By ensuring that 100% of new debt is green, social, or sustainable, FUNO showcases its commitment to Environmental, Social, and Governance (ESG) criteria. This dedication has earned FUNO recognition as one of the 15 global leaders in ESG practices within the real estate sector by S&P Global.
Quotes and Recognition
“This extraordinary market response is a testament to FUNO’s solid financial and operational standing, but most importantly, it reflects the deep trust we have built with the investor community over time,” said Gonzalo Robina, FUNO’s Deputy CEO. “The oversubscription of this issuance validates our execution capabilities and confirms that the market recognizes FUNO as a mature, resilient company with a long-term vision. We believe that Mexico’s future is built by responsible and solid institutions, and FUNO will continue to be an active part of that future.”
Credit Ratings and Market Confidence
The bond issuance was backed by the highest national credit ratings: AAA(MEX) from Fitch Ratings and HR Ratings, both with a stable outlook. These ratings validate FUNO’s robust financial and operational profile.
Amidst a global uncertainty, this operation sends a message of FUNO’s solidity and renewed confidence in the Mexican market as fertile ground for sustainable, long-term investments.
Key Questions and Answers
- What is Fibra Uno (FUNO)? FUNO is a leading real estate company in Latin America, committed to sustainability and innovation.
- What was the amount of the bond issuance? FUNO issued a sustainability-linked bond worth 12,700 million pesos.
- What is the bond’s structure? The bond consists of two tranches: 3,700 million pesos at TIIE Fondeo + 125 bps, maturing in May 2028, and 9,000 million pesos at a fixed rate MBONO + 225 bps, maturing in May 2032.
- How does this issuance support FUNO’s sustainability commitment? The bond issuance is directly linked to FUNO’s goal of certifying at least 26.6% of its portfolio under international LEED and EDGE standards by 2027, demonstrating their dedication to sustainability.
- What credit ratings did FUNO receive? FUNO received AAA(MEX) from Fitch Ratings and HR Ratings, both with a stable outlook.
