translated from Spanish: Treasury will purchase part of the debt cancellation of the NAIM

the Ministry of Finance reported that the trust of the airport of the city of Mexico (MEXCAT) will buy in cash part of the bonds that were issued to finance the construction of the Airport in Texcoco.
In a statement, the SHCP said that also require the consent of the holders of the securities to make certain modifications to the conventions of emission and other related documents.
The purchase will be up to thousand 800 million dollars of bonds, reported in new Council of management of the Group airport of the city of Mexico (GACM) this Sunday.
With this, we seek to “provide flexibility to MEXCAT where you submit changes by the new administration”, it said in a statement.
He explained that with this movement are seeking two objectives: buy a portion of the existing debt, which is expected to significantly reduce the leverage of the trust.
Modify the emission of each of the values, conventions and agreements related to eliminate certain obligations and non-compliance events related to the project of the airport in Texcoco, and release the lien on the rate of Use Airport (“TUA”) and other assets from a potential airport in Texcoco.
Part of the resources that the Texcoco project would be financed were from la TUA, which is tax that travelers pay for the use of airport Benito Juárez.
Treasury said that new investments at the current airport and Saint Lucia will continue to being guaranteed for the rights to the collection of the TUA and other assets derived from the Benito Juarez airport.
Currently, some 6 billion dollars were found in four series of bonds in the market.
“The offers of repurchase and requests for consent are part of a comprehensive plan for agreements and commitments related to the Texcoco airport with different investors, contractors, and other shareholders, including the holders” certificates issued by the fiber, and of the Mexico City Airport,”he said.
President Andrés Manuel López Obrador reiterated Monday that the investments of the shareholders of the new international airport of Mexico (NAIM) are guaranteed and that also is coming to agreements with the construction companies.
“It is a trust, it is a process that must be carried out, I reiterate is that the investments of shareholders are guaranteed and that it is also coming to agreements with the construction companies”.
Meanwhile, in Texcoco works will continue, while an assessment of the strategic plan of the project.

Original source in Spanish