DEAL: New Mexico City Airport bond

Author: Edward Price | Published: 4 Oct 2016

A $2 billion bond offering to finance the construction and development of the New Mexico City International Airport is being hailed as the largest inaugural bond offering ever for a new airport. The issue presents minimal risk to lenders and will significantly improve Mexico’s airport capacity.

According to Cleary Gottlieb which advised the Mexican government, the bond offering was also assigned a green bond assessment based on the issuer’s commitment to allocate the proceeds to finance eligible beneficial environmental projects. 

"The new airport constitutes one of the most innovative airport projects worldwide. This issuance is the largest green bond offering to date in Latin America, the second global green bond in Mexico and the first emerging-market green bond to receive the highest rating from Moody’s," said Jorge Juantorena, partner at Cleary Gottlieb.

The transaction consists of an offering of $1 billion 4.25% senior secured notes due...


 

 

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