BBVA México grants MXN 500 million sustainability-linked loan to Fibra EXI


Cuatrecasas advises BBVA México on granting a sustainability-linked loan to Fibra EXI

February 15, 2022

Cuatrecasas has advised BBVA México on granting a MXN 500 million sustainability-linked loan to Fibra EXI (FEXI 21) with a three-year term. The financing is linked to a sustainable index seeking to reduce energy intensity in KWh produced by non-renewable sources per kilometer of the highways operated by Fibra EXI, with an impact area comprising four highways and a toll tunnel.

This is the first loan that BBVA México has granted directly to an infrastructure investment trust, based on sustainability indicators aimed at promoting actions to combat climate change. The fulfillment of the sustainability indicators by Fibra EXI, as the borrower, will have a positive effect on the cost of financing.

Fibra EXI comprises five infrastructure assets: Apaseo–Palmillas, Kantunil–Cancún, Rioverde–Ciudad Valles, the Libramiento La Piedad bypass and the Acapulco intercity tunnel. These assets are located in seven of the Mexican states, covering a total extension of 521 km.

The team advising on the transaction was made up of and led by the Cuatrecasas lawyers in Mexico León López, José Núñez, Juan Carlos Galicia, Ana Isabel Echeverría and María Fernanda Ramírez.

February 15, 2022