Vesta draws $85 million under revolving credit facility due 2022

By Wendy Van Sickle

Columbus, Ohio, March 24 – Corporacion Inmobiliaria Vesta, SAB de CV drew down $85 million under its $125 million revolving credit facility, according to a news release Tuesday.

The revolver matures in August 2022 and bears interest of Libor plus 185 bps.

Vesta said it has temporarily suspended starting new speculative buildings, as its management has adopted a cautious approach toward the currently volatile business environment stemming from the Covid-19 outbreak.

The pure-play industrial real estate company is based in Mexico City.

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