Grupo Aeroportuario del Pacífico Enhances Financial Flexibility
Grupo Aeroportuario del Pacífico Enhances Financial Operations
Grupo Aeroportuario del Pacífico, S.A.B. de C.V., commonly referred to as GAP, has made significant strides in strengthening its financial foundation. Recently, the company announced the successful refinancing of a credit facility with Banco Nacional de México, marking a major milestone in its financial strategy.
Highlights of the Credit Facility Refinancing
The refinancing involves a credit line of USD$40 million, which is set to mature in six months. This strategic move allows GAP to maintain flexibility in its financial operations, with interest payments structured at a variable rate of SOFR plus 25 basis points, enabling the company to manage costs effectively without additional fees.
Payment Structure
Principal repayment is scheduled for March 21 of the following year, giving the company ample time to leverage these funds for growth and expansion. This extension not only underscores GAP's ongoing commitment to financial prudence but also positions it favorably for future investments in airport management and development.
About Grupo Aeroportuario del Pacífico
Grupo Aeroportuario del Pacífico operates an impressive portfolio of 12 airports across Mexico's Pacific region. This includes key cities like Guadalajara and Tijuana, as well as popular tourist destinations such as Puerto Vallarta, Los Cabos, and La Paz. With its shares traded on both the New York Stock Exchange under the ticker PAC and the Mexican Stock Exchange as GAP, the company is well-recognized in the aviation sector.
Expansion and Acquisitions
In a noteworthy expansion move, GAP acquired a significant stake in MBJ Airports Limited, which manages Sangster International Airport in Jamaica. This acquisition reflects the company’s strategic vision to expand its footprint outside Mexico, enhancing its operational capabilities and offering new opportunities for growth in the Caribbean.
Commitment to Governance and Transparency
GAP has also established stringent governance standards in alignment with the Sarbanes-Oxley Act, particularly through its whistleblower program. This program ensures that stakeholders can report any misconduct or violations in a confidential manner, reinforcing the company’s commitment to ethical practices.
Contact Information for Investor Relations
For more information, investors can reach out to Alejandra Soto, who serves as the Investor Relations and Social Responsibility Officer, or Gisela Murillo from the Investor Relations team. They are available via email for any inquiries related to the company’s financial matters.
Frequently Asked Questions
What is the significance of the recent refinancing?
The refinancing allows Grupo Aeroportuario del Pacífico to extend its credit facility, providing greater financial flexibility to manage future investments and operational costs.
How will the funds from the credit line be used?
The funds from the credit line will support GAP's growth strategies, covering operational expenses and potential investments in airport management.
What airports does Grupo Aeroportuario del Pacífico operate?
GAP operates 12 airports in Mexico, including major cities such as Guadalajara and Tijuana, and tourist hotspots like Puerto Vallarta and Los Cabos.
How does GAP ensure corporate governance?
GAP has implemented a whistleblower program and complies with the Sarbanes-Oxley Act to ensure transparency and govern its operations ethically.
Who to contact for investor inquiries?
Alejandra Soto and Gisela Murillo serve as contact points for investor relations and can be reached via email for inquiries regarding the company's performance and strategies.
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