Squire Patton Boggs Peña Prieto Gamundi acted as Dominican counsel to the underwriters and lenders of the Dominican Republic’s main airport concessionaire, Aeropuertos Dominicanos Siglo XXI (Aerodom), in a $940 million financial transaction, one of the largest financings in the history of the country. Aerodom is a wholly owned subsidiary of VINCI Airports, the world’s leading private airport operator.
The funding is comprised of a $440 million credit facility and a $500 million bond issuance. The credit facility was arranged by Banco Popular Dominicano, S.A. – Banco Múltiple, Popular Bank Ltd. Inc., Banco Latinoamericano de Comercio Exterior, S.A., New York Agency, Citibank, N.A, FirstCaribbean International Bank (Cayman) Limited, JPMorgan Chase Bank, N.A., and The Bank of Nova Scotia. The bond issuance was arranged by Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
The funds will be used by Aerodom to comply with its obligations under the Renewed and Reformed Concession Contract entered in December 2023, which extended the concession of Aerodom to operate six airports in the Dominican Republic until 2060, including the payment of $775 million concession fee to the Dominican State and the constructing of a new terminal at Santo Domingo’s Las Américas International Airport, among other.
The Squire Patton Boggs team was led by partners Rhina M. Martinez Brea and Pedro O. Gamundi, and included associates Katiuska Ortega, Rita Mota, and Juan Vargas. Senior Associates Francisco Batlle, Laura Consuegra, and Maria Pia Garcia were also involved in the due diligence phase of the transaction.