Citigroup instructs Milbank on $575 million offering by Panama City Airport

Milbank advised Citigroup Global Markets as sole initial purchaser of $575 million in senior secured notes issued by Aeropuerto Internacional de Tocumen, the government-owned operator of the Panama City airport. 

This is the first international issuance by Aeropuerto Internacional de Tocumen and it will finance the airport’s expansion, including a new terminal. The notes were listed on the Panamanian Stock Exchange and secured by a trust account structure under Panamanian law.

Partner Marcelo Mottesi led the Milbank team advising Citigroup.