Investor group rejects new Mexico airport bond buyback plan

12/13/2018 – Reuters

11227926_308216752682196_8676740954999549706_o.jpgMEXICO CITY (Reuters) – A group of investors holding bonds issued for a new Mexico City airport that President Andres Manuel Lopez Obrador has canceled said on Wednesday that it cannot support an amended bond buyback because problems still remain despite improvements to the plan.

The Mexico City Airport Trust, which is overseeing the buyback, on Tuesday said it would offer investors a better deal to repurchase bonds issued to finance the project, which Lopez Obrador scrapped to pursue a cheaper alternative.

The bondholder group, which says it represents more than half the $6 billion principal amount issue, also said it still wants to discuss its concerns with the airport trust.

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