Grupo Aeroportuario del Centro Norte (OMA)’s $195.7 Million Notes Offering

Mijares, Angoitia, Cortés y Fuentes acted as legal counsel on the transaction

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. completed the offering of Ps.4.0 billion in long-term sustainability-linked notes in the Mexican market.

The offering includes Ps. 1,700 million in 5-year Notes (ticker: OMA 22L) at a variable rate of TIIE 28 + 14 basis points and Ps. 2,300 million in 7-year Notes (ticker: OMA 22-2L) at a fixed rate of 9.35%. 

The offering received the highest ratings in Mexico of Baa/Aaa.mx by Moody’s and AAA(mex) by Fitch on a national scale.

With the proceeds from the Issuances, OMA has prepaid today, short-term loans for an aggregate amount of Ps.2.7 billion due on June 2022, which were obtained from Banco Nacional de México, HSBC México and Banco Santander México. The remaining proceeds will be mainly used to fund committed investments under the 2021-2025 Master Development Program.

Mijares, Angoitia, Cortés y Fuentes acted as legal counsel on the transaction with a team including Ricardo Maldonado Yáñez (Picture), Carlos Jiménez Cantú, Fernanda Cid and Jimena Domínguez Bernal.

Involved fees earner: Fernanda Cid – Mijares, Angoitia, Cortés y Fuentes, S.C.; Carlos Jiménez Cantú – Mijares, Angoitia, Cortés y Fuentes, S.C.; Ricardo Maldonado-Yáñez – Mijares, Angoitia, Cortés y Fuentes, S.C.;

Law Firms: Mijares, Angoitia, Cortés y Fuentes, S.C.;

Clients: Banco Santander Sa; Citibanamex; Grupo Aeroportuario del Centro Norte;

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Author: Ambrogio Visconti