By Andrea Heisinger
New York, July 23 - Grupo Aeromexico SAB de CV, through unit SPV Mexican Aircraft Finance IV, LLC, priced $117.4 million of 2.537% secured notes due 2025 that are guaranteed by the Export-Import Bank of the United States, according to a press release Tuesday.
Bookrunners were Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
Proceeds will be used to refinance two Boeing 737-800 aircraft, which were delivered in June and July, and to finance one Boeing 737-800 aircraft to be delivered in August.
It was the first time a company from Mexico's private sector will fund its transactions through bonds guaranteed by the Ex-Im Bank and issued via capital markets, according to the release.
"This financing structure is unprecedented among Mexican private-sector companies," said Andres Conesa, CEO of Grupo Aeromexico, in a news release. "Grupo Aeromexico is therefore one of the few players in the country to have access to such a source of funds with a highly competitive cost. The transaction also reaffirms the Ex-Im Bank's importance as a strategic partner for Aeromexico's long-term sustainable growth in the coming years."
Grupo Aeromexico, a holding company for commercial aviation, is based in Mexico City.
| Issuer: | Grupo Aeromexico SAB de CV via unit SPV Mexican Aircraft Finance IV, LLC
|
| Guarantor: | Export-Import Bank of the United States
|
| Issue: | Secured notes
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| Amount: | $117.4 million
|
| Maturity: | July 13, 2025
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| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC
|
| Coupon: | 2.537%
|
| Trade date: | July 23
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