NEXT Properties Announces Successful Results from Bond Exchange Offers
NEXT Properties, a trust based in Mexico, has announced the results of its exchange offers for two series of senior notes. The Trust offered to exchange outstanding $409.78 million of 7.700% Senior Sustainability-Linked Notes due 2032 and $299.90 million of 7.375% Senior Green Notes due 2034 for newly issued 6.793% Senior Sustainability-Linked Notes due 2036. The exchange offers expired on October 20, 2026, with $535.57 million of the old notes tendered and accepted—representing 70.75% for the 2032 series and 81.91% for the 2034 series. In return, holders will receive new notes totaling approximately $572.68 million along with accrued interest payments of up to $19.04 per $1,000 principal amount. The exchange is expected to settle on October 22, and all conditions for the offers have been satisfied or waived.