MBJ Airports Ltd. (Sangster Int'l Concessionaire)
Senior secured notes issued by MBJ Airports Limited, the concessionaire operating Sangster International Airport — Jamaica's primary tourism gateway handling 4–5 million+ international passengers per year. A long-dated concession agreement with the Airports Authority of Jamaica underpins the credit structure.
Best-in-class Caribbean infra credit for USD income seekers. The 6.60% coupon at a ~9–10yr duration is compelling versus JAMAN sovereign for credit-aware buyers willing to take concession-asset risk for incremental spread. We recommend pairing with JAMAN for a balanced Jamaica-exposure book.
This research note is prepared by GK Capital Management for informational purposes only and does not constitute an offer or solicitation to buy or sell any security. Indicative metrics shown are subject to change without notice. Credit ratings are sourced from public rating agency reports as of the publication date and may have moved since. Past performance is not indicative of future results. Investors should consult their advisor before transacting in any fixed income security.