The airport administrators are negotiating with Citi to structure and launch the second issuance in no more than two months in order to complete financing for the expansion of the terminal.

The aim is to sell on the international market the entire issue before the end of this year, and simultaneously negotiate with the holders of bonds of the first issue to extend their maturity periods, improving debt conditions so that the final tranche of funding of the South Terminal will be complete.

Prensa.com reports that the improvement in cash flow of Tocumen SA, comes as the company “… is about to embark on the search for more funds to pay off the contract for the construction of the south terminal, amounting to $800 million and to pay down debt previously acquired. ”

“Tocumen obtained a bridge loan of $150 million, funds which will be used to cover work to be carried out by Odebrecht over the next 12 months … in this two year loan the parties involved were Banco General, Global Bank and Scotiabank, each contributing 50 million … this debt will be paid with funds from the bond issue. “

Source: Prensa.com