Volaris places stock certificates for US$72.9 million

MEXICO – Volaris placed US$72.9 million in trust certificates issued on the Mexican Stock Exchange (BMV), which will have a term of 5 years and will pay an interest rate of the Interbank Equilibrium Interest Rate (TIIE) for a term of up to 29 days +200%.

These certificates are under the program authorized by the National Banking and Securities Commission for an amount of up to US$145 million.

The airline said that the certificates will be backed by future collection rights under contracts entered into with credit card processors in respect of flows from the sale of airline tickets through VISA and Mastercard credit cards, through its internet portal, travel agencies, call center and sales offices.

The certificates are rated "HR AA (E)" and "AA+/M(e)" by the rating agencies HR Ratings de México and Verum Calificadora de Valores.

Volaris has been one of the Mexican airlines that has surpassed its pre-pandemic levels in passenger movement, just from January to September of this year it transported 17,124,000 passengers against 16,237,000 in the same period of 2019, which translates into 5.4% more.

Source: T21