#Senior Notes #Mexico #Mexico City #NEXT Properties #Sustainability-Linked

NEXT Properties Reports Success in Recent Exchange Offers

In a recent announcement, NEXT Properties (Trust 2401), which operates under the laws of the United Mexican States, disclosed significant results regarding its latest exchange offers for outstanding senior notes. The offers included the conversion of existing 6.950% Senior Notes due in 2044 and 6.390% Senior Notes due in 2050 into additional 7.731% Senior Sustainability-Linked Notes with a maturity extending to 2056. This strategic move aims to enhance their financial flexibility and align with sustainable investment practices.

As of October 23, 2026, the expiration date for these offers, a significant amount of the senior notes were successfully tendered. Specifically, the next properties accepted exchanges for a total of approximately $50.9 million across both series of old notes, representing about 21.68% of the total principal amount of the outstanding notes. The interest of investors in sustainability-linked financial instruments reflects a growing trend towards environmental responsibility in investment strategies.

Detailed Breakdown of Exchange Offers

The successful completion of the exchange offers is laid out as follows:

• - 6.950% Senior Notes due 2044

- Principal Amount Outstanding: $108,380,000
- Amount Tendered and Accepted for Exchange: $20,960,000 (19.34% of total)
- Consideration for New Notes: $19,889,144

• - 6.390% Senior Notes due 2050

- Principal Amount Outstanding: $126,415,000
- Amount Tendered and Accepted: $29,952,000 (23.69% of total)
- Consideration for New Notes: $25,931,238

The total aggregate amount of new senior sustainability-linked notes issued will approximate $45,820,382. This integration of new notes represents a significant step towards NEXT Properties' commitment to fostering sustainability within its financing framework.

Understanding the Schedule and Conditions

The withdrawal deadline for the old notes was also noted to have expired on the same day, meaning investors who tendered their notes could no longer withdraw them unless mandated by law. The Trust has successfully fulfilled all the pertinent conditions outlined in the exchange offer memorandum, which details the complexities of the financial transactions.

Targeting Qualified Buyers

The exchange offers were specifically directed towards qualified institutional buyers and non-U.S. investors, adhering to Regulation S under the Securities Act. This targeted approach demonstrates NEXT Properties' strategy to engage with a more sophisticated investor base that emphasizes responsible investment principles. Eligible holders certified under these regulations could participate in this financial exchange, reflecting a selective yet strategic outreach.

Collaboration with Financial Experts

To facilitate this operation, NEXT Properties enlisted Citigroup Global Markets Inc. as the dealer manager for the exchange offers. Investors seeking advice or clarification about the process can reach out to Citigroup's dedicated team. Additionally, the Global Bondholder Services Corporation was appointed to serve as the Exchange and Information Agent, helping smooth any queries regarding eligibility letters or the exchange process.

The Broader Financial Landscape

While the success of these offers solidifies NEXT Properties' position in the market, it also points to a larger trend of sustainability in finance. Investors are increasingly looking for financial products that not only yield returns but also align with their values regarding social and environmental responsibility. With the issuance of senior sustainability-linked notes, NEXT Properties showcases its commitment to meet investor expectations and adapt to changing investment paradigms.

In conclusion, as NEXT Properties moves forward, its latest exchange offer results underscore a dual commitment to enhancing liquidity while supporting sustainable financing practices. This adaptability may prove crucial as global financial markets increasingly prioritize sustainable investment strategies.