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OMA Announces Placement Of Ps. 1.6 Bln In 10-Year Notes, Commercial Paper

3/26/2013 7:19 PM ET

Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (OMAB: Quote) on Tuesday announced the placement of 10-year Notes and 28-day commercial paper in the Mexican market.

Ps. 1,500 million peso-denominated Notes due March 14, 2023 were placed at a fixed rate of 6.47%, with interest payable semi-annually.

OMA expects to use the proceeds of the Notes to prepay outstanding short-term credit lines and to finance Master Development Program investments at its 13 airports, as well as for strategic investments.

The company also said it has launched a commercial paper program of up to Ps. 200 million. Ps. 100 million in 28-day commercial paper was placed with a yield of 4.17%.

The commercial paper will be used for working capital and general corporate purposes. OMA expects to renew outstanding commercial paper at each maturity.

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by RTT Staff Writer

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