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Panama's main airport issues bonds for 225 million dollars

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  • Sun, 05/13/2018 - 15:07
Tocumen
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The Tocumen Airport, Panama's main airport, issued 225 million dollars in bonds with a maturity of 30 years and a rate of 6 percent, to finance the expansion plan of this important regional hub.

The administration of Tocumen said this Friday in a statement that the issue was placed "successfully in local and international markets (...) with the subscription of Citigroup Global Markets", without further details.

Revenue from the new bond issue will be used to purchase land for the construction of a third runway, funds for supplementary projects, and the bidding of new projects, Tocumen said.

Also for the payment of projects in execution such as the construction of the new fuel tanks and supply system, electrical substation, electric backup generator for terminal two, repair of pavements and taxiways in Tocumen and Panama Pacifico Airport, parking lots of cars in terminal 2 and taxi operators.

The funds will also be used for the start of the Phase 1 project, the new Multimodal Logistics Freight Zone, the security systems for scanners and x-rays, furniture and equipment, new computer and technology systems, among others, said the administration of the air terminal.

Tocumen recalled that "it has the investment grade and BBB risk rating according to Standard & Poor's and Fitch Raitings," which, it added, "demonstrates the confidence of international and local investors in Panama and its strategic assets".

The airport is in full expansion with the project of terminal two (T2), a project of around 800 million dollars, which will allow it to mobilize more than 20 million passengers per year.

EFE

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