Aeropuertos Argentina 2000 announces the conclusion of an exchange offer and the issuance of new tickets

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LUXEMBOURG – (COMMERCIAL THREAD) –Corporación América Airports SA (NYSE: CAAP), (“CAAP”), the world’s largest private sector airport operator by number of airports, today announced that Aeropuertos Argentina 2000 (the “Company” or “AA2000”), a subsidiary of CAAP, has entered into a series of transactions, strengthening the Company’s liquidity and achieving a sustainable debt profile that offer financial flexibility to continue modernizing its airport network in Argentina.

In September 2021, AA2000 successfully issued a bond of $ 30.5 million in the local market, at an annual interest rate of 4% and with a maturity of 2 years. The offering was extended from an initial amount of $ 10 million and has a local credit risk rating of A (Arg) by FIX SCR Argentina.

In October 2021, the Company announced an offer to exchange its international bonds, initially issued in February 2017 and then traded in 2020, at the start of the pandemic. In summary, the Company recently concluded the following transactions:

  • A new issue of 8.5% Series 2021 Notes due 2031 (extended since 2027 previously), issued as part of the Exchange Offer and with a 4-year grace period. Series 2021 Notes will have an enhanced collateral package, which includes an offshore reserve account and a second lien on freight terminal income. The transaction closed on October 28, 2021 with a 66.83% and 24.61% interest of the holders of the Series 2020 and Series 2017 Notes, respectively.

  • On November 1, 2021, the Company raised $ 126 million in new money in two installments: (i) $ 64 million in additional Series 2021 Notes, which are fungible with the bonds issued under the offering of exchange, and ii) $ 62 million in new senior secured notes Notes due 2028. These have a 3-year grace period, quarterly amortization from February 2025 and final payment in November 2028.

  • At the same time, AA2000 refinanced the bank loans, extending the final maturity of these loans until November 2024 (currently in February 2023), with a grace period of 15 months.

With the completion of the aforementioned transactions, the Company has:

  • Strengthen its liquidity, achieve a sustainable debt profile

  • Extended maturity of its existing international bond transaction until 2031 (from 2027 previously) with a 4-year grace period at 8.5% interest rate, demonstrating financial discipline

  • New notes issued for a total of $ 126 million in two installments

  • Bank loans refinanced with a grace period of one year and final maturity in 2024

In 2020 and 2021, the Company’s operations have been affected by the COVID19 pandemic and the air travel bans established by the government to contain the spread of the virus.

Following the lifting of travel restrictions on international traffic and the opening of borders to non-resident foreigners as of November 1, 2021, we expect better passenger dynamics, an increase in flights and already announced destinations. by airlines, and higher tourist activity, as the summer season approaches.

About Corporación América Airports

Corporación América Airports acquires, develops and operates airport concessions. The Company is the world’s largest private airport operator in terms of number of airports and tenth in terms of passenger traffic. Currently, the Company operates 52 airports in 7 countries in Latin America and Europe (Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy). In 2019, Corporación América Airports served 84.2 million passengers. The Company is listed on the New York Stock Exchange where it trades under the symbol “CAAP”. For more information visit http://investors.corporacionamericaairports.com

Forward-looking statements

Statements relating to our future plans, projections, events or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements which are not historical facts and may be identified by such terms. that “believes”, “continue”, “could”, “potential”, “remain”, “will”, “would” or similar expressions and the negative aspects of these terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by forward-looking statements. Many factors could cause our actual business or results to differ materially from the businesses and results anticipated in forward-looking statements, including, but not limited to: the impact of Covid-19, delays or unexpected losses related to construction as part of our investment plan and plans, our ability to generate or obtain the capital required to develop and fully operate our airports, general economic, political, demographic and business conditions in geographic markets that we serve, decrease in passenger traffic, changes in the fees we may charge under our concession agreements, inflation, depreciation and devaluation of the AR $, EUR, BRL , UYU, AMD or PEN against the US dollar, the early termination, revocation or non-renewal or extension of any of our concession agreements. on, the right of the Argentine government to repurchase the AA2000 concession contract, changes in our investment commitments or our ability to meet our obligations hereunder, existing and future g government regulations, losses from natural disasters which may not be fully insurable, terrorism in the international markets we serve, epidemics, pandemics and other public health crises and changes in interest rates or exchange rates. The Company encourages you to consult the “Caution” and “Risk Factor” sections of our annual report on Form 20-F for the fiscal year ended December 31, 2019 and any other applicable CAAP document to the Securities and Exchange Commission for additional information. information about the factors that could cause these differences.


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