Grupo Aeroportuario del Pacifico Announces Debt Refinancing for US$ 191.0 Million
October 29 2020 - 5:52PM
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV:
GAP) (the “Company” or “GAP”) announced the successful refinancing
of its bank debt for US$ 191.0 million, due in January and February
2021.
With this financing, the Company extended its
short-term, dollar-denominated maturities, which provides more
certainty with regards to the use of its financial resources for
2021. The refinancing was obtained from the same two Banking
Institutions that originally granted these loans. The financing
terms were the following:
- On October 19, the Company signed a
credit refinancing for US$ 95.5 million with Scotiabank Inverlat,
S.A., due in January 2021. The new loan has a 36-month term from
the date of its disbursement, which will take place in January 19,
2021; interest will be payable monthly at an annual fixed rate of
2.063%, structuring fee of 30 basis points and principal payment
will be payable at the due date.
- On October 22, the Company signed a
credit refinancing with BBVA Bancomer, S.A., due in February 2021,
for US$ 95.5 million. The new loan has a 36-month term from the
date of its disbursement, which will take place on February 2,
2021; interest will be payable monthly at a fixed annual rate of
1.97%, an up-front fee of 60 basis points and the principal payment
will be payable at the due date.
Company
Description:
Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
(GAP) operates 12 airports throughout Mexico’s Pacific region,
including the major cities of Guadalajara and Tijuana, the four
tourist destinations of Puerto Vallarta, Los Cabos, La Paz and
Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato,
Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006,
GAP’s shares were listed on the New York Stock Exchange under the
ticker symbol “PAC” and on the Mexican Stock Exchange under the
ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo
de Concesiones Aeroportuarias, S.L., which owns a majority stake in
MBJ Airports Limited, a company operating Sangster International
Airport in Montego Bay, Jamaica. In October 2018, GAP entered into
a concession agreement for the operation of the Norman Manley
International Airport in Kingston, Jamaica. In October 2018, GAP
entered into a concession agreement for the operation of the Norman
Manley International Airport in Kingston, Jamaica and took control
of the operation in October 2019.
This press release may
contain forward-looking statements. These statements are statements
that are not historical facts, and are based on management’s
current view and estimates of future economic circumstances,
industry conditions, company performance and financial results. The
words “anticipates”, “believes”, “estimates”, “expects”, “plans”
and similar expressions, as they relate to the company, are
intended to identify forward-looking statements. Statements
regarding the declaration or payment of dividends, the
implementation of principal operating and financing strategies and
capital expenditure plans, the direction of future operations and
the factors or trends affecting financial condition, liquidity or
results of operations are examples of forward-looking statements.
Such statements reflect the current views of management and are
subject to a number of risks and uncertainties. There is no
guarantee that the expected events, trends or results will actually
occur. The statements are based on many assumptions and factors,
including general economic and market conditions, industry
conditions, and operating factors. Any changes in such assumptions
or factors could cause actual results to differ materially from
current expectations.
In accordance with Section 806 of the
Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado
de Valores”, GAP has implemented a “whistleblower”
program, which allows complainants to anonymously and
confidentially report suspected activities that June involve
criminal conduct or violations. The telephone number in Mexico,
facilitated by a third party that is in charge of collecting these
complaints, is 01 800 563 00 47. The web site is
www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified
of all complaints for immediate investigation.
IR
Contacts: |
|
Saúl Villarreal, Chief Financial Officer |
svillarreal@aeropuertosgap.com.mx |
Alejandra Soto, IR and Financial Planning Manager |
asoto@aeropuertosgap.com.mx |
Gisela Murillo, Investor Relations |
gmurillo@aeropuertosgap.com.mx / +523338801100 ext.
20294 |
Maria Barona, i-advize Corporate Communications |
mbarona@i-advize.com |
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