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Markets could finance up to 70 pct of new Mexico city airport - source
August 12, 2015 / 5:18 PM / 2 years ago

Markets could finance up to 70 pct of new Mexico city airport - source

MEXICO CITY, Aug 12 (Reuters) - High investor demand to fund a planned $13 billion airport for Mexico’s capital means the private sector could finance up to 70 percent of the project, versus an initial 42 percent, a source familiar with the situation told Reuters on Wednesday.

Mexico’s finance ministry has said it will rein in spending next year as oil prices have swooned and production at ailing state oil giant Pemex has slumped, raising the chance of seeking more project financing from investors.

A hike in market participation could mean raising bond issuance for the project to around $9 billion from an originally forecast of $6 billion, with maturities of 10, 20 and 30 years, said the source. (Reporting by Alexandra Alper, Cyntia Barrera and Roberto Aguilar; Editing by Simon Gardner)

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