Vinci raises $940m to manage Dominican Republic’s airports
Vinci Airports has signed a $940m financing deal with a consortium of lenders to pay a concession fee to the Dominican Republic and build a $250m terminal at Las Américas International Airport near the capital, Santo Domingo.
Vinci’s Dominican subsidiary Aeropuertos Dominicanos Siglo XXI (Aerodom) raised the funds after it agreed a new concession contract in December that extended its concessions for six Dominican airports until 2060.
According to this deal, Aerodom will pay the government $775m and carry out upgrades, the largest of which is the terminal, Dominican Today reports.
Some $500m of the amount was raised through a successful global bond issue. The remaining $440m comes as a credit agreement.
Seven banks were involved in the deal, including the Banco Popular Dominicano, JPMorgan Chase, Citigroup, and the Bank of Nova Scotia.
Aerodom general director Mónika Infante Henríquez said Vinci Airports, through Aerodom, was “consolidating its position as one of the largest investors in the Dominican Republic”.
This deal ranks among the largest corporate financings in the country’s history.
