Mexico City Airport gives final results of four-series tender offer

By Marisa Wong

Los Angeles, Dec. 6 – Mexico City Airport Trust (Mexcat) announced the final results of its Nov. 6 cash tender offers for four series of notes, according to a Wednesday press release.

As of the expiration of the offers at 5 p.m. ET on Dec. 5, holders had tendered and the issuer accepted for purchase the following:

• $134,078,000 of the $700.01 million outstanding 4¼% senior secured notes due 2026 (Cusip: 59284MAA2, P6629MAA0), subject to a tender cap of $172.5 million, at $950;

• $107,787,000 of the $700 million outstanding 3 7/8% senior secured notes due 2028 (Cusip: 59284MAC8, P6629MAC6), subject to a tender cap of $164.1 million, at $907.50;

• $30,004,000 of the $700 million outstanding 5½% senior secured notes due 2046 (Cusip: 59284MAB0, P6629MAB8), subject to a tender cap of $164.1 million, at $765; and

• $209,645,000 of the $2,100,004,000 outstanding 5½% senior secured notes due 2047 (Cusip: 59284MAD6, P6629MAD4), subject to a tender cap of $492.5 million, at $765.

The tender considerations listed above are per $1,000 principal amount. They include early tender premiums of $50 per $1,000 of notes.

Originally, only holders who tendered their notes by the original early tender deadline and withdrawal deadline at 5 p.m. ET on Nov. 17 were eligible to receive the early tender premium. The issuer later extended the deadline for receiving the early tender premium to the expiration of the offers.

In addition, the issuer will pay accrued interest to but excluding the settlement date, which is expected to be Dec. 8.

The offers are not contingent on the tender of any minimum principal amount of notes for any series. However, the offers are subject to some other conditions, including a financing condition.

Barclays (212 528-7581, 800 438-3242) and Santander US Capital Markets LLC (212 940-1442, 855 404-3636) are dealer managers for the tender offers.

The depositary and information agent is Global Bondholder Services Corp. (212 430-3774 for banks and brokers, 855 654-2015; https://gbsc-usa.com/mexcat/).

Mexcat is a special purpose entity based in Mexico City.

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