Vesta Gets US$545 Million Loan to Develop Green Industrial Parks

The International Finance Corporation (IFC) has announced its participation in Vesta’s US$545 million Global Syndicated Sustainable Credit Facility. This financing aims to accelerate the development of green industrial parks in Mexico, supporting the country’s nearshoring efforts and contributing to the achievement of climate change goals.

“We are pleased to have completed this new financing. It provides us with continued access to strategic liquidity reserves at a competitive cost, as we remain focused on executing our short and long-term initiatives aligned with Vesta’s Route 2030 growth plan and with our stated balance sheet guidelines to ensure Vesta’s continued prudent financial management,” says Juan Sottil, CFO, Vesta. 

The credit facility consists of a US$100 million sustainability-linked loan provided by the IFC, alongside a US$445 million syndicated term loan and a standby revolving line from a group of commercial banks. The IFC is also acting as the Sustainability Coordinator for the entire facility, ensuring that the investments are in line with sustainable practices and decarbonization objectives.

Beyond financing, IFC will collaborate with Vesta through an advisory engagement focused on the development of a comprehensive decarbonization strategy for Vesta’s real estate portfolio. This initiative will be supported by IFC’s Green Pathways for Real Estate Institutional Portfolios (GRIP) decarbonization program, further cementing Vesta’s commitment to sustainable development in the real estate sector.

By developing sustainable industrial spaces, Vesta aims to help meet the growing demand for industrial real estate while setting new standards for sustainability in Mexico’s real estate market.

“Mexico's strategic location and robust industrial base make it an ideal destination for nearshoring investments. By partnering with Vesta to develop green industrial parks, we are not only supporting Mexico's economic growth but also promoting sustainable development and climate resilience. The development of green industrial parks will not only meet the growing demand for industrial space but also set new standards for sustainability in Mexico's real estate market, setting a benchmark for other developers and attracting further investments,” says Olaf Schmidt, Director of Manufacturing, Agribusiness and Services in the European Union, Latin America and the Caribbean, IFC.