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Vinci Airport’s Aerodom agrees to $533m refinancing

Vinci had acquired Aerodom, a concession company operating six Dominican airports, from Boston-based Advent International last April.

Dominican airport operator Aeropuertos Dominicanos Siglo XXI (Aerodom) has taken on $533 million of debt through a term loan facility and senior secured notes due in 12 years.

Aerodom, a concession company that operates six of the Dominican Republic's nine airports, raised $317 million by selling senior secured notes due in 2029 at a 6.75 percent coupon, according to the law firm Orrick, which advised the transaction. The company also agreed to a $216 million debt package used to finance a tender offer for outstanding senior secured notes expiring in 2019.

Last April, French airport operator Vinci Airports acquired Aerodom from Boston-based private equity firm Advent International for an undisclosed amount. Advent held ownership of the Dominican airports since September 2008. The financial details of that transaction were not disclosed either.

Under Advent's ownership, Aerodom formed a new route development group to increase traffic to its airports; repaved and expanded the runway of Las Américas and Gregorio Luperón terminals, the busiest of the six airports; and built 17 new hangars, the firm said in a separate statement, without disclosing the amount of these investments. The other four airports operated by Aerodom are Presidente Juan Bosch and Arooyo Barril in Samaná, La Isabella in Santo Domingo and María Montez in Barahona.

Orrick did not respond to a request for comment for this story.