MEXCAT’s Tender Offers and Consent Solicitations


Jones Day, Cleary Gottlieb Steen & Hamilton, Hogan Lovells, Ritch, Mueller, Heather y Nicolau and Paul Hastings advised on the transaction

Mexico City Airport Trust (MEXCAT) executed its $1.8 Billion tender offers to purchase, for cash, a portion of the $6 billion of notes issued in the international markets and solicitation of consents from the holders of the notes to certain amendments to the indentures governing the notes and other related agreements.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and J.P. Morgan Securities LLC are acting as dealer managers.

The transaction launched on December 3, 2018, and is expected to expire on January 2, 2019, unless extended. The main purpose of the tender offers and consent solicitations is to provide MEXCAT flexibility in the event of any policy changes by the new Mexican government administration in the development of airport infrastructure in the Mexico City metropolitan area.

Jones Day México advised Fideicomiso del Aeropuerto de la Ciudad de México (Mexcat) with Alberto de la Parra, Rodrigo Gómez, Arturo de la Parra, Carlos Sámano, Regina Fajardo and Jimena Kuri.

Cleary Gottlieb Steen & Hamilton advised Fideicomiso del Aeropuerto de la Ciudad de México (Mexcat) with Nicolas Grabar (Picture), Richard Cooper, David Lopez, Jorge Juantorena, Manuel Silva, Isa Julson, Stephanie Fontana and Jose Andres de Saro.

Hogan Lovells advised an Ad Hoc Group of BondHolders (Schroder) with Ron Silverman and Federico De Noriega.

In Mexico, Ritch, Mueller, Heather y Nicolau advised with Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC Luis Nicolau, Thomas Heather and Gabriel Robles Beistegui.

Paul Hastings advised Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC with Michael Fitzgerald, Joy Gallup, Eduardo Gonzalez and Emilio Minon.

Involved fees earner: Luis Nicolau Gutiérrez – Ritch, Mueller, Heather y Nicolau, SC; Thomas Heather – Ritch, Mueller, Heather y Nicolau, SC; Gabriel Robles Beistegui – Ritch, Mueller, Heather y Nicolau, SC; Ronald Silverman – Hogan Lovells; Federico De Noriega Olea – Hogan Lovells; Alberto de la Parra – Jones Day; Arturo de la Parra – Jones Day; Carlos Alberto Sámano Cruz – Jones Day; Regina Fajardo Hurtado de Mendoza – Jones Day; Rodrigo Gómez Ballina – Jones Day; Michael Fitzgerald – Paul Hastings; Joy Gallup – Paul Hastings; Eduardo Gonzalez – Paul Hastings; Nicolás Grabar – Cleary Gottlieb Steen & Hamilton; David Lopez – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Isa Julson Barahona – Cleary Gottlieb Steen & Hamilton; Stephanie Fontana – Cleary Gottlieb Steen & Hamilton; Jose Andres de Saro – Cleary Gottlieb Steen & Hamilton; Richard Cooper – Cleary Gottlieb Steen & Hamilton;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC; Hogan Lovells; Jones Day; Paul Hastings; Cleary Gottlieb Steen & Hamilton;

Clients: Citigroup Global Markets Ltd; JP Morgan Securities; Schroders plc; HSBC Securities; Fideicomiso del Aeropuerto de la Ciudad de México (Mexcat);

Author: Ambrogio Visconti.