Corporacion Inmobiliaria Vesta (VTMX), known as Vesta, said Thursday it has priced a private offering of 5.500% senior unsecured notes due Jan. 30, 2033 at $500 million aggregate principal amount.

The Mexican industrial real estate development company said it intends to use net proceeds from the offering to pay down debt and for general corporate purposes.

The notes will be issued through a private placement, and resold by the initial purchasers to qualified institutional buyers and 'to certain persons in offshore transactions,' in accordance with US securities rules, the company said. The notes will be guaranteed on a senior unsecured basis by certain of Vesta's subsidiaries.

Shares of the company were down 1% in recent Thursday premarket activity.