Aeroméxico’s $400 Million Debut Debt Offering

Cleary Gottlieb represented Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., BBVA Securities Inc., and Santander Investment Securities Inc., as initial purchasers, in the inaugural debt offering of $400 million aggregate principal amount of 7% senior notes due 2025 issued and sold by Aerovías de México, S.A. de C.V. (Aerovías), the operating subsidiary of Grupo Aeroméxico, S.A.B. de C.V. (Grupo Aeroméxico; collectively, Aeroméxico), which were guaranteed by Grupo Aeroméxico.

The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction closed on February 5, 2020. The proceeds of the offering will be used for the prepayment of outstanding short-term debt; to finance capital expenditures relating to the financing, maintenance, and operation of its fleet, and for general corporate purposes.

Aeroméxico is Mexico’s flag carrier airline, as well as Mexico’s leading airline in terms of market share, fleet size, and network. As Mexico’s only full-service carrier, Aeroméxico offers 577 daily passenger flights on average, servicing 43 domestic and 46 international destinations from Mexico. It is a founding member of the SkyTeam alliance and is engaged in a close strategic partnership with Delta Air Lines Inc.