The Firm represented JPMorgan Chase Bank, N.A., as sole lead arranger, bookrunner, administrative agent and lender, and Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, BBVA México, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México, and HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, as lenders, in connection with a senior unsecured bridge credit agreement in the aggregate amount of US$ 1,299,000,000, made available to Aeropuerto de Cancún, S.A. de C.V., as borrower. The proceeds were used for the acquisition of Companhia de Participações em Concessões, which operates and manages, through its investments in concessionaire companies, a portfolio of 20 airports in Latin America, including 17 in Brazil and one in each of Ecuador, Costa Rica and Curaçao.
The borrower is a subsidiary of Grupo Aeroportuario del Sureste, S.A.B de C.V. (ASUR), which, after giving effect to the acquisition of Companhia de Participações em Concessões, operates or holds interests, directly or indirectly, in 36 airports across 7 countries and territories in Latin America, including the Cancun Airport. Headquartered in Mexico, ASUR is listed both on the Mexican stock exchange and on the NYSE.
The Simpson Thacher team included Juan Francisco Méndez, Isabel de Carvalho and John L. Gorton (Credit—Latin America); and Michael Mann (Tax).