Vesta plots SLB as recent LatAm deals slide

Vesta, industrial park, Mexico, Aguascalientes, LatAm, 575, press kit
By Oliver West
04 May 2021

Mexican industrial parks operator Corporación Inmobiliaria Vesta began investor calls on Monday as it looks to become the latest Latin American issuer to join the sustainability-linked bond (SLB) club. Though bankers continue to see LatAm companies obtaining pricing benefits from SLBs, a handful of recent deals are trading below re-offer in secondary.

Bank of America and Citi are global co-ordinators on Baa3/BBB-/BBB- rated Vesta’s proposed $350m senior unsecured sustainability-linked bond, which it will use to refinance $250m of debt and for general corporate purposes. BBVA and UBS are joint bookrunners.

This deal would be the 10th sustainability-linked bond from ...

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