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Bondholders challenge airport buyback

Bondholders challenge airport buyback

December 6, 2018 | Mick Bowen
Group with more than 50% of GACM's bonds says it wants to discuss the terms of proposal with the government

Bonds Debt Corporate & Sovereign Strategy Economy & Policy Fixed Income Project & Infrastructure Finance Politics Mexico

A group of bondholders has said it cannot go along with a proposal to buy back up to $1.8bn in bonds issued to fund the construction of a new airport near Mexico City. The group, represented by the British law firm Hogan Lovells, has questioned removing or reducing the collateral for bondholders in the current proposal, but it added that it is willing to discuss the buyback with the Mexico City Airport Trust, or Mexcat. The group holds more than 50% of the $6bn in bonds issued by the state-owned

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