NAIM bondholders rejects repurchase offer from the government

A group of bondholders claiming to have more than 50 percent, at least of a series of bonds from the New Mexican International Airport (NAIM), acknowledged that they were concerned and did not endorse the repurchase offer for $ 1.8 billion from the Government.
The group of investors, who would be represented and in contact with Hogan Lovells, also indicated through a communication from Business Wire, that he was not consulted on this proposal, but that he is willing to talk to address their concerns

“There is a probability that I would say is not minor, an important probability, that`s just one day before we present the package we can have for all practical purposes closed the issue of bond and relationship with the bondholders,” he told Radio Fórmula.
Analysts have commented that the repurchase offer, which works as a type of auction, is a form of “damage control” after the cancellation announcement of the project that already has an advance close to 30 percent. The measure would avoid demands from foreign investors on affected bonds.

Fitch Ratings said in a statement that if the proposed offer and the offer of consent announced by the trust are successful, “it would alleviate some short-term risks.”