Mexico City, March 26, 2018.- Viva Aerobus, Mexico's ultra-low-cost airline successfully completed the placement of $ 1,000 million pesos in short-term bonds on the Mexican Stock Exchange in order to expand the diversification of its funding and complete its first issuance of short-term debt in the Mexican stock market.
With an original selling target of $ 500 million pesos, Viva Aerobus offering obtained a 2.0 times over-demand, making a first selling of $ 700 million pesos and a second one of $ 300 million pesos, which allowed to finally complete $ 1,000 million pesos, twice the original targeted amount.
These bonds, issued with ticker symbol Viva00118 and Viva00218, will pay a variable interest rate equal to TIIE (Interbank Interest Rate of Equilibrium by in Spanish) + 0.85% in a term of 364 days. Bonds have a short-term credit rating of '2/M' by Verum and 'HR2' by HR Ratings, which means that these are issuances entitled to a timely payment.
All the resources obtained will be allocated to working capital requirements and to general corporate usages. Actinver Casa de Bolsa and HSBC acted as brokers of the operation.
"The closure of this operation, having exceeded all initial expectations, confirms how trusted is the strength of our business model. With this, Viva Aerobus continues diversifying its funding sources as part of its sustainable growth strategy", said Juan Carlos Zuazua, general director of Viva Aerobus.
About Viva Aerobus
Viva Aerobus is Mexico's low-cost airline. It started operations in 2006 and today operates the youngest Latin American fleet with 25 Airbus A320, including two A320neo, in 89 routes to 37 destinations. With a clear vision to give all people the opportunity to fly, Viva Aerobus has democratized the airline industry with the lowest rates in México and the lowest costs in Latin America, making their flights the best value offer.