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Statement on Mexico City Airport Trust Cash Tender Offers and Consent Solicitations

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MEXICO CITY, Dec. 16, 2018 /PRNewswire/ — The Ministry of Finance and Public Credit issues the following statement concerning the Mexico City Airport Trust (“MEXCAT”) and its revised tender offers and consent solicitations announced on Tuesday, December 11, 2018.

The revised offer was made after considering feedback received from a wide variety of market participants, and it includes significant enhancements in the interests of noteholders. The effect of the offer would reduce MEXCAT’s total debt outstanding by up to 30%. The revised offer also establishes principal accumulation accounts which are expected to reduce total net debt outstanding by a minimum of an additional $1 billion within five years, resulting in a total reduction in outstanding net debt of up to 46%.

We are confident that the reductions in net debt and other enhancements address the principal concerns raised by the holders and represent a balanced and market-friendly transaction given the policy objectives of the Mexican Government.

We understand that the reaction of the market has been strongly positive with respect to the revised terms. The financial institutions appointed by MEXCAT as dealer managers have been in regular, direct communication with noteholders with positions of all sizes, which was the basis of the revised terms.

MEXCAT and its representatives have also been in contact with advisors who purport to represent an ad hoc group of holders, and who have declined, despite repeated requests, to provide the identities or holdings of the group. The points advanced by those advisors have been reviewed with them and considered. However, we believe the revised offer addresses the principal concerns of the noteholders.

MEXCAT has provided a separate statement clarifying some aspects of the revised terms which is accessible at http://gbsc-usa.com/MEXCAT/, and our dealer managers remain available to address clarifications.

MEXCAT does not intend to make any further modifications in the terms of the transaction announced on December 11. We believe the transaction as amended is a balanced and commercial approach to the interests of the noteholders, MEXCAT and the Mexican public.

If the revised offer is not successful on the terms currently proposed, MEXCAT and the Mexican government will reconsider what alternatives are available to achieve the government’s objectives. We believe the resulting delay and uncertainty will not serve the interests of noteholders or the Mexican public.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO PURCHASE, A SOLICITATION OF AN OFFER TO PURCHASE OR A SOLICITATION OF CONSENT WITH RESPECT TO ANY SECURITIES. THE TENDER OFFERS AND CONSENT SOLICITATIONS ARE BEING MADE SOLELY PURSUANT TO AN OFFER TO PURCHASE AND CONSENT SOLICITATION STATEMENT AND THE RELATED LETTER OF TRANSMITTAL, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFERS WHICH HOLDERS OF THE NOTES SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. The Ministry of Finance and Public Credit undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

SOURCE Ministry of Finance and Public Credit

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