Holland & Knight advises Fibra UNO on $1bn loan

Holland & Knight has advised Fibra UNO, Mexico’s largest real estate investment trust, in connection with a $1 billion dual tranche five-year sustainable revolving credit agreement in US dollars and Mexican pesos. 



The unsecured revolving credit facility incorporates a sustainability-linked pricing grid that reduces the borrowing spread if certain benchmarks are achieved each year. The syndicated facility complies with the Loan Syndications and Trading Association’s sustainability linked loan principles and is the first of its kind for a Mexican borrower like Fibra UNO.

The facility was arranged by Banco Santander México, Grupo Financiero Santander México and BBVA Bancomer. The deal was finalized on July 23.


“This transaction sets an important precedent for Mexican real estate investment trusts,” said Guillermo Uribe Lara (pictured), the Mexico City-based partner who led the Holland & Knight team.



“Sustainability-linked loans are a great tool for environmentally conscious organizations, like Fibra UNO, to make a real impact in the market and motivate others to meet similar performance objectives,” he added

In addition to Uribe, the Holland & Knight team included, senior counsel Adrian Gay Lasa and associates Jorge González Carlini, Santiago Soldevilla Gutiérrez and Mirna Ordaz Avilés in Mexico City and partners Stephen Double and Norberto Quintana, senior counsel Lara M. Rios and associate Julia de la Parra in New York.

Fibra UNO has been advised by Holland & Knight team members on all of its financing transactions since 2011.