MEXICO CITY, June 24, 2019 /PRNewswire/ -- Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("VESTA" or the "Company") (BMV: Vesta), one of the leading pure-play industrial real estate companies in Mexico, announced today the prepayment of its US$150 million syndicated loan due July 2021, using available cash.
Due to the prepayment of this loan, Vesta does not have any major debt due until 2026.
"This transaction further strengthens Vesta's balance sheet and enhances our financial flexibility to choose the most advantageous financing options, including self-funding, to invest in our third stage of growth," said Vesta's Chief Executive Officer, Lorenzo Dominique Berho. "Efficient and accretive capital allocation remains a hallmark of our company and underpins our new strategy to become a best-in-class, fully-integrated real estate company."
Vesta is a best-in-class, fully integrated real estate company that owns, manages, acquires, sells, develops and re-develops industrial properties in Mexico. As of March 31, 2019, Vesta owned 187 properties located in modern industrial parks in 14 states of Mexico totaling a GLA of 30.4 million ft² (2.83 million m²). The Company has multinational clients, which are focused in industries such as aerospace, automotive, food and beverage, logistics, medical devices, and plastics, among others. For additional information visit: www.vesta.com.mx.
SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.