Mexican Government in $1 Billion Financing for Construction of New Mexico City International Airport

Cleary Gottlieb is currently representing the Mexican Ministry of Communications and Transportation, the agency of the Mexican government in charge of overseeing the management, operations and development of Mexico’s airports, in the first stage of the financing for the construction and development of the new Mexico City international airport. The new airport is expected to become the largest in Latin America and serve as a regional hub.

The financing consists of a secured loan granted by a syndicate of Mexican and U.S. banks for $1 billion and includes an innovative collateral structure pursuant to which the airport usage fee (TUA) collected by the Mexican government from airlines operating at Terminal 1 and Terminal 2 of the current Mexico City international airport will be the principal source of payment of the loan.