Holland & Knight Advises Banco Actinver and Fibra UNO on $800 Million ESG Bond Financing
MEXICO CITY (February 4, 2025) – Holland & Knight advised Banco Actinver S.A. Institución de Banca Múltiple, Grupo Financiero Actinver, acting solely and exclusively as trustee for Fibra UNO (BMV: FUNO11), in connection with a dual-tranche notes offering. The firm also acted as counsel to Fibra UNO. The offering consisted of an aggregate amount of US$800 million (approximately MXN$16.4 billion), with US$500 million of 7.700 percent senior sustainability-linked notes due in 2032 and US$300 of 8.250 percent senior sustainability-linked notes due in 2037. The notes, placed on January 16, were issued in the international markets under rule 144a/RegS.
The notes included an environmental, social and governance (ESG) sustainability-linked feature, which links the interest rates of the notes to Fibra UNO's sustainability strategy of maximizing the gross leasing area of its properties that have received environmental certifications from leading green building certification schemes, such as Leadership in Energy and Environmental Design (LEED), Building Owners and Management Association (BOMA) and Excellence in Design for Greater Efficiencies (EDGE). Fibra UNO will use the proceeds to repay its senior unsecured 5.250 percent notes due in 2026 and the remainder, if any, for the repayment of all or a portion of certain outstanding credit lines and other indebtedness, including breakage costs, interest rate hedge unwind, and/or fees and expenses, or general corporate purposes.
BBVA Securities Inc. and J.P. Morgan Securities LLC acted as joint bookrunners and global coordinators, and J.P. Morgan Securities LLC acted as sustainability-linked bond structuring agent to Fibra UNO. The group of joint bookrunners also included Alterna Securities Inc., BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Santander US Capital Markets LLC and Scotia Capital (USA) Inc.
Based in Mexico City, Fibra UNO is the first Mexican real estate investment trust (REIT) and the largest in Latin America.
Holland & Knight's representation of Banco Actinver and Fibra UNO was led by Partners Guillermo Uribe, Stephen Double and Adrian Gay Lasa, along with Associates Jorge Gonzalez, Carlos Guijarro, Maria De Bedout and Jorge Ballen, and International Law Clerk Lucia Viboud Aramendi.
More information on the transaction can be found here.