Deal | 09 December 2025
Fibra Prologis Prices Its Debut USD 500 Million Senior Dollar Bond; BBVA Acts as Joint Bookrunner
Fibra Prologis made its entry into the international debt capital markets with the issuance of its inaugural senior US-dollar bond, a USD 500 million 10-year note carrying a 5.50% coupon, in a transaction where BBVA served as Joint Bookrunner. The deal marks a meaningful milestone in the company’s funding strategy and underscores the robust investor interest that its industrial platform continues to command globally.
As part of the execution process, BBVA coordinated a two-day virtual roadshow. Market appetite translated into a USD 1.5 billion orderbook—three times oversubscribed. Strong demand enabled the issuer to tighten initial price thoughts (IPTs) from T+170 bps to a final spread of T+145 bps. The transaction priced 30 bps inside the Mexican sovereign curve (UMS), highlighting the deal’s strong reception among institutional accounts across the United States, Europe, and Latin America.
In its role as Joint Bookrunner, BBVA Corporate & Investment Banking contributed its international markets expertise and its active footprint in Mexico’s industrial and real estate sectors, helping strengthen the deal’s positioning with the global investor base.
The transaction’s strong performance reflects Fibra Prologis’ standing as one of Mexico’s leading industrial real estate platforms, backed by Prologis Inc., the world’s largest industrial REIT. The company manages a logistics portfolio located in several of the country’s most strategic industrial hubs, characterized by high occupancy levels, a diversified tenant roster, and exposure to trade-oriented corridors and nearshoring trends. This is further reinforced by its recent acquisition of Fibra Terrafina, which expands its operational scale and bolsters its presence in key industrial demand centers across Mexico.
We congratulate Fibra Prologis on the successful issuance and appreciate the trust placed in BBVA Corporate & Investment Banking as Joint Bookrunner. We look forward to continuing to support the company’s growth plans and its contribution to the development of Mexico’s industrial and logistics sectors.
As part of the execution process, BBVA coordinated a two-day virtual roadshow. Market appetite translated into a USD 1.5 billion orderbook—three times oversubscribed. Strong demand enabled the issuer to tighten initial price thoughts (IPTs) from T+170 bps to a final spread of T+145 bps. The transaction priced 30 bps inside the Mexican sovereign curve (UMS), highlighting the deal’s strong reception among institutional accounts across the United States, Europe, and Latin America.
In its role as Joint Bookrunner, BBVA Corporate & Investment Banking contributed its international markets expertise and its active footprint in Mexico’s industrial and real estate sectors, helping strengthen the deal’s positioning with the global investor base.
The transaction’s strong performance reflects Fibra Prologis’ standing as one of Mexico’s leading industrial real estate platforms, backed by Prologis Inc., the world’s largest industrial REIT. The company manages a logistics portfolio located in several of the country’s most strategic industrial hubs, characterized by high occupancy levels, a diversified tenant roster, and exposure to trade-oriented corridors and nearshoring trends. This is further reinforced by its recent acquisition of Fibra Terrafina, which expands its operational scale and bolsters its presence in key industrial demand centers across Mexico.
We congratulate Fibra Prologis on the successful issuance and appreciate the trust placed in BBVA Corporate & Investment Banking as Joint Bookrunner. We look forward to continuing to support the company’s growth plans and its contribution to the development of Mexico’s industrial and logistics sectors.