Simpson Thacher recently represented Aeropuertos Dominicanos Siglo XXI (Aerodom), which is controlled by affiliates of private equity firm Advent International, in the offering of $550 million aggregate principal amount of 9.250% Senior Secured Notes due 2019. The notes are unconditionally guaranteed by Latin American Airports Holdings Ltd. (LAAH), Aerodom’s parent, and other intermediate holding companies. This offering represents the largest ever bond transaction by a Dominican corporate issuer.
Aerodom has an exclusive concession to operate, maintain and develop the six airports that comprise the public airport system in the Dominican Republic, including Las Américas International Airport in the capital Santo Domingo, the country’s largest city. Las Américas is one of the principal international gateways to the Caribbean, handling the second-largest passenger volume and the largest cargo volume in the country. Aerodom’s five other airports principally service tourist destinations in the country. The Firm previously represented Aerodom in the privatization of airports in 2000, and in 2008 we represented the sellers in the sale of Aerodom to Advent International. LAAH also owns Fumisa S.A. de C.V., which holds a master lease to substantially all of the commercial space in the international wing of Terminal 1 at Mexico City International Airport.
The Simpson Thacher team for this transaction included Jaime Mercado, Kirsten Davis, William Langer, Luis Pellerano and Luis Miguel Elias (Capital Markets); Rob Holo, Jonathan Cantor and Devin Heckman (Tax); and George Wang (OFAC).
