NAICM Finance

The development of the new Mexico City International Airport (CDMX) is the largest infrastructure
project in the country. The financing channel has been a novelty and self-financing denomination and
takes advantage of the entry of new instruments in the market such as Fibra E.

Finance Summary

 6 billion dollars through green bonds;

 1,600 million dollars, through Fibra E;
 One billion dollars, with a revolving line of credit,
 1,250 million dollars of resources of the Budget of Expenditures of the Federation .

Costs:

 Investment Costs of Airport Infrastructure, which are integrated by construction costs, and
equipment costs
 Operation and maintenance costs
 Costs of additional works, integrated by hydraulic works, land, advisory costs,
turbosinoductos, roads, transport, complementary works and previous studies

The cost of canceling

According to the Airport Group, at this moment there are 321 contracts signed, about 30% of the
progress of the work, and it would cancel about 120 billion pesos, considering what has already been
invested, the demands that would have contractors and conventional penalties .
Another factor to consider is that, according to the government of Peña Nieto, 45 thousand people
work at this moment in the construction of the New Airport.

Fibra (MLPs)
It is equivalent to invest directly in a real estate property and rent it, only through a vehicle that owns
a wide range of real estate, which necessarily distributes net income and that you can buy and sell in
the Stock Market.
Escrow: a bond, deed, or other document kept in the custody of a third party, taking effect only when
a specified condition has been fulfilled.
Fibra: real state escrow.

FIBRA E is a trust fund that finances Energy projects like oil or electricity and national infrastructure
such as bridges, ports, airfields, roads, among others.
FNAIM 18
30 million Trust Certificates of Investment in Energy and Infrastructure have been placed for the
Mexican market and three million 250 thousand in the international offer; the price of each certificate
was 100 pesos.

Green Bond
A green bond is any type of bond whose funds are exclusively used to finance or refinance, in part or
in its entirety, eligible green projects, whether new and/or existing.
they must be aligned with the Green Bond Principles (GBP), which promote the integrity of the green
bond market through guidelines that recommend transparency, publicity and reports.

The Green Bonds apply in:

 Renewable energies.
 Energy efficiency: new and refurbished buildings, energy storage.
 Clean transport, such as electric transport, public multimodal transport, infrastructure for
clean energy vehicles.
 Sustainable management of water and wastewater.
 Ecological buildings.

Green bonds new airport

Among the projects of the New Mexico City International Airport (NAICM) that are eligible to be
financed through green bonds include:

 Neutralize the carbon footprint;

 Self-sufficiency totally through clean energy;
 Obtain LEED certification. The airport is in the process of receiving platinum certification
for the passenger terminal and gold certification for the air traffic control tower.

Placement of Green Bonds

 The Airport Group of the City of Mexico (GACM) placed in the international capital markets
bonds for 4 million dollars for the construction of the New International Airport of Mexico
City.
 The issue consists of a bond for one billion dollars at 10 years with a rate of 3.875 percent
and another for 3 billion dollars at 30 years with a rate of 5.50 percent.
 This financing will be paid with the excess flows that the airport generates.

Airport Use Rate

To pay for the New Airport, in addition to the fiscal resources or the PEF, the Peña Nieto government
decided to use resources generated by the Airport Use Fee, known as TUA.
These resources are those that the Airport Group denominates as private resources, and expects that
they cover 70% of the total cost of the work.

Transparency
The GACM, for this work, has promised maximum transparency, however, the Superior Audit of the
Federation, in its revision to the Public Account 2016, alerted that the Group had failed to make a
clear distinction, regarding how much of public resources and how much of private resources, in the
budget expansions approved by the Treasury.

Evolution of the exchange rate

When it was presented in 2014, it was said that in Mexican pesos the cost would be 169 billion pesos,
with an exchange rate of 13 pesos per dollar.
And now, four years later and with an exchange rate of 19 pesos per dollar, there is talk that the airport
in Texcoco will cost at least 240 billion pesos
In a lapse of 50 years, they would be spending about 569 billion pesos in operation and maintenance
of the New Airport.