Mexico City Airport Trust Announces $4 Billion Green Bond Offering, Largest in Latin America

September 14, 2017

New York – Paul Hastings LLP, a leading global law firm, represented Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as global coordinators and initial purchasers, as well as a number of co-managers, in connection with Mexico City Airport Trust’s offering of $4 billion of debt securities. The firm also represented HSBC as indenture trustee on the offering. The securities were issued in two tranches of US$1 billion of 3.875% Senior Secured Notes due 2028 and US$3 billion of 5.500% Senior Secured Notes due 2047, marketed under Rule 144A and Regulation S. The bonds qualified as “green bonds” in respect to the use of proceeds, making this offering the largest green bond issuance in Latin America to date.
In October 2015, Paul Hastings represented the global coordinators, administrative agent and lenders in a $3 billion bank financing for the new International Airport in Mexico City, which is being built to replace the existing Benito Juarez International Airport. Paul Hastings’ clients, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC acted as global coordinators of the loan, and were lead arrangers for the $2 billion bond financing that followed in September 2016 to provide additional financing needed for this airport project.

The Paul Hastings team was led by partners Joy Gallup and Mike Fitzgerald, and included partners Steven Sandretto, Cathleen McLaughlin and Andrew Short, associates Thomas Sines, Eduardo Gonzalez, Will Burns and Matthew Tippett and foreign attorney Jorge Garduno.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.