In order to refinance its bank liabilities, Fibra Monterrey initiated the procedures to place debt for 115 million dollars in the Mexican Stock Exchange.

The sale of the securities is expected to take place on May 24, with a 10-year term and a fixed annual rate.

This will be the second issuance of bonds in dollars carried out by the Real Estate Investment Trust (Fibra) in the local market. In 2020, it made an inaugural placement for 100 million dollars, for seven years, which pays a fixed coupon of 4.60% every 182 days.

With the next debt offer, it seeks to obtain resources to refinance its bank liabilities, as well as corporate uses in general.

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Fibra Monterrey's debt was 4 thousand 135.3 million pesos at the end of 2020, the firm reported in its financial report for the fourth quarter of 2020.

Fibra Monterrey is focused on the leasing of real estate for industrial, commercial and office use. It has a portfolio made up of 59 properties, with the industrial sector being the one with the highest concentration, with 35 properties, followed by the office segment with 18 properties and the commercial sector with six.

Its total portfolio comprises 713,925 square meters of Gross Profitable Area (GLA) and an occupancy rate of 94.4 percent.