Jones Day advises on $3 billion loan for new Mexico City airport
Mexico City. Photo: Kasper Christenses/Flickr

Mexico City. Photo: Kasper Christenses/Flickr

9th October 2015

Jones Day advised Grupo Aeroportuario de la Ciudad de Mexico (GACM) on securing a $3 billion revolving credit facility through a syndicated loan with HSBC as the Administrative Agent, and Citigroup and JP Morgan as Global Coordinators.
The transaction included a syndication process in which BBVA Bancomer and Banco Santander participated as Senior Mandated Lead Arrangers; Banco Inbursa, Bank of Tokyo-Mitsubishi, Credit Agricole and Scotiabank as Arrangers; and Banco Sabadell, ING, Mizuho and Sumitomo Mitsui as Lead Managers. Jones Day advised GACM in the syndication process.
“The support we received from Jones Day was vital for the successful closing of this transaction and they ensured the right legal conditions existed for the financing to go ahead. We look forward to working with them again on future bonds transactions.”, said Federico Patiño – CEO of GACM.
The funds were obtained through a revolving credit facility and will be used to satisfy periodic investment requirements for the construction of the NAICM. Subject to the existing market conditions, the issuance of long-term debt bonds in the capital markets will serve to prepay and renew the revolving credit facility funds. Under this financial structure GACM guarantees the availability of the funds that are required for the construction of the NAICM.
The project is being carried out by the Mexican Federal Government through GACM, and will provide a solution to the increasing air traffic that the city faces. …

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