FIBRA Macquarie México Announces Completion of US$685 Million Unsecured Refinancing Program

Highlights

  • Drawdown of US$405 million under its US$435 million unsecured bank credit facility
  • Issuance of US$250 million unsecured seven-year private placement notes
  • Repayment of US$717 million of secured loans made on June 30, 2016

MEXICO CITY--()--FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) today announced the successful completion of its previously announced US$685 million unsecured refinancing program (the Refinancing). The initial drawings of US$655 million, along with US$62 million cash on hand, were used to prepay FIBRA Macquarie’s asset-level secured loans of US$717 million.

The Refinancing is an important component of FIBRA Macquarie’s key strategic objective to transition to a predominately unsecured debt capital structure. The Refinancing is expected to deliver significant benefits, including:

  • extension of weighted average tenor of debt outstanding to 4.2 years, compared to 1.4 years, as of June 2016, and a smoother refinancing profile;
  • securing long-term, fixed-rate funding at competitive rates, with a pro forma weighted average cost of debt of 5.1 percent per annum;
  • enhanced asset substitution flexibility to facilitate ongoing portfolio management initiatives, including an asset recycling program;
  • diversification of financing sources to a broader base of local and international banks, as well as leading US insurance companies; and
  • a more efficient and flexible balance sheet, reducing surplus cash and adding a revolving credit facility for liquidity requirements.

FIBRA Macquarie will continue evaluating opportunities to access the long-term, fixed-rate unsecured debt markets to repay amounts outstanding under the revolving credit facility and further increase liquidity.

About FIBRA Macquarie

FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie’s portfolio consists of 276 industrial properties and 17 retail/office properties, located in 24 cities across 19 Mexican states as of March 31, 2016. Nine of the retail/office properties are held through a 50/50 joint venture with Grupo Frisa. FIBRA Macquarie is managed by Macquarie México Real Estate Management, S.A. de C.V. which operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.

Macquarie Infrastructure and Real Assets is a business within the Macquarie Asset Management division of Macquarie Group and a global alternative asset manager focused on real estate, infrastructure, agriculture and energy assets. Macquarie Infrastructure and Real Assets has significant expertise over the entire investment lifecycle, with capabilities in investment sourcing, investment management, investment realization and investor relations. Established in 1996, Macquarie Infrastructure and Real Assets has approximately US$104.6 billion of total assets under management as of March 31, 2016.

About Macquarie Group

Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 14,372 people and has assets under management of more than $367 billion (as of March 31, 2016).

Cautionary Note Regarding Forward-looking Statements

This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements.

None of the entities noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities.

THIS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED.

THIS ANNOUNCEMENT IS NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA.

All figures in this release are subject to rounding and stated in US Dollar or US Dollar-equivalent amounts, unless otherwise specified. Any arithmetic inconsistencies are due to rounding.

Contacts

For FIBRA Macquarie México
Investor relations:
+52 (55) 9178 7763
fibramq@macquarie.com
or
Jay Davis, +1 212 231 1825
jay.davis@macquarie.com
or
For press queries:
CarralSierra PR & Strategic Communications
Jose Manuel Sierra, +52 (55) 5286 0793
Cell: +52 1 (55) 5105 5907
jmsierra@carralsierra.com.mx
or
CarralSierra PR & Strategic Communications
Sonia Figueroa, +52 (55) 6273 6363 / 4195 6727
Cell: +52 1 (55) 55 6111 8599
sfigueroa@carralsierra.com.mx

Contacts

For FIBRA Macquarie México
Investor relations:
+52 (55) 9178 7763
fibramq@macquarie.com
or
Jay Davis, +1 212 231 1825
jay.davis@macquarie.com
or
For press queries:
CarralSierra PR & Strategic Communications
Jose Manuel Sierra, +52 (55) 5286 0793
Cell: +52 1 (55) 5105 5907
jmsierra@carralsierra.com.mx
or
CarralSierra PR & Strategic Communications
Sonia Figueroa, +52 (55) 6273 6363 / 4195 6727
Cell: +52 1 (55) 55 6111 8599
sfigueroa@carralsierra.com.mx