Volaris announces offering of notes valued at $78.3 million

Mexico’s Volaris airline has successfully completed the issuance of 15 million asset backed trust notes to be issued under the ticker VOLARCB 19 for an amount of Ps$1.5 billion ($78.3 million). Issued by CIBanco, S.A., Institución de Banca Múltiple, acting as trustee under the Irrevocable Trust number CIB/3249 created by Concesionaria Vuela Compañía de Aviación, in the first issuance under a program approved by the Mexican National Banking and securities commission for an amount of up to Ps$3 billion ($156.7 million). The trust notes will be backed by future receivables under the agreements entered into with the credit card processors