GACM books early return

GACM books early return

Project & Infrastructure Finance Mexico Bonds

Grupo Aeroportuario de Ciudad de México (GACM) has returned to the cross-border bond market ahead of schedule and sold another $4bn in new 2027 and 2047 notes, sources told LatinFinance. Citi, HSBC and JPMorgan opened the initial price talks around 200bp over US Treasury notes for the 2027 bonds and around 300bp for the 2047s, but investor interest allowed the bookrunners to tighten the spread at guidance to 180bp, plus or minus 5bp, on the shorted-dated notes and 280bp, plus or minus 5bp, on t

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