Aerodom Lands Dollar Sale

Airport operator Aeropuertos Dominicanos (Aerodom) has issued its first bond in the international market, raising $550m.The concessionaire of six airports in the Dominican Republic priced the $550m 2019 NC3 at par with a 9.25% coupon, to yield in line with 9.25%-area guidance. While book size was not disclosed, investors following the deal cited modest demand Tuesday afternoon. The notes are being issued to refund all of Aerodom’s existing debt, as well as to provide a one-time distribution to Advent International, an equity sponsor at the Latin American Airport Holdings parent. JPMorgan managed the transaction.