Aerovías de México, a subsidiary of Grupo Aeroméxico has successfully closed a US$200 million syndicated revolving credit line for a three-year term, marking its strong return to the Mexican banking market.
In this transaction, BBVA México served as the sole global coordinator, sole bookrunner, and agent bank, overseeing the structuring and syndication of the loan with the participation of both national and international banks. This agreement provides Aeroméxico with liquidity for its ordinary operations, allowing the company to allocate resources and profits generated in previous years towards new investments and objectives aligned with its business plan.
Grupo Aeroméxico is one of Mexico's leading airlines. According to information provided to investors, from January to July 2024, the company transported 14.808 million passengers, representing a 4.4% increase compared to the same period in 2023. Notably, the international passenger market saw a 19.2% increase, while the domestic market experienced a slight decline of 1.4%.
Earlier this year, Moody's Investor Service confirmed an improvement in Grupo Aeroméxico's credit rating, upgrading the company's corporate rating from “B3” to “B2” and changing the outlook from stable to positive, reflecting the company's stability and progress.
The closing of this transaction further confirms BBVA México's leadership in Syndicated Loan operations, reiterating the institution's commitment to supporting and promoting the growth of clients and companies to build a better future for all.
BBVA México and Aeroméxico have maintained a longstanding and collaborative relationship, marked by a series of financial partnerships that have supported the airline's growth and operations. Over the years, BBVA México has played a pivotal role in providing financial solutions tailored to Aeroméxico's needs, including syndicated loans, credit facilities, and other financial instruments. This partnership has been instrumental in enabling Aeroméxico to navigate economic challenges, expand its fleet, and enhance its market presence both domestically and internationally.
