Press Release
October 22, 2021

Holland & Knight Advises Fibra UNO on Double Sustainable Bond Issuance, First for a REIT in Latin America

MEXICO CITY (October 22, 2021) – Holland & Knight advised Fibra UNO on its successful fourth and fifth issuance of long-term sustainable bonds under its pre-authorized program (FUNO 21X and FUNO 21-2X, respectively), totaling $8.1 billion pesos (approximately US$400 million). Both issuances took place on October 19.

The bonds received an investment grade credit rating of “HR AAA” by HR Ratings de Mexico, SA. de C.V. and “AAA(mex)” by Fitch México, S.A. de C.V. Sustainable bonds are fixed income instruments that focus on using the financing obtained from investors for projects that demonstrate a social and environmental benefit, with good corporate governance.

Holland & Knight Mexico City-based partners Guillermo Uribe Lara and Adrián Gay Lasa and associates Jorge E. Gonzalez Carlini, Santiago Soldevilla Gutiérrez and Mirna L. Ordaz Aviles advised Fibra UNO on both offerings.

 “This is the first sustainable bond in Latin America issued by a REIT," said Mr. Uribe. "Once again FUNO meets market expectations that reflect the company's solid position as the largest Fibra in Latin America and take into account the company's broad and well-diversified portfolio, diversified tenant base, high occupancy rates, and broad financial flexibility thanks to good access to financial markets."

Actinver Casa de Bolsa, S.A., Grupo Financiero Actinver; Casa de Bolsa Santander, S.A. de C.V., Grupo Financiero Santander México; HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC; and Scotia Inverlat Casa de Bolsa, S.A. de C.V., Grupo Financiero Scotiabank Inverlat acted as underwriters of the transactions.

Fibra UNO, Latin America's largest real estate investment trust, has been advised by Holland & Knight team members on all of its financing transactions since its creation in 2011.

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