Grupo Aeroportuario del Pacífico Secures $40 Million Credit Refinance

Grupo Aeroportuario del Pacífico's Strategic Credit Refinancing

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP), a prominent player in airport operations across Mexico's Pacific region, has taken a significant step forward by announcing the refinancing of a USD $40 million credit line. This credit facility, previously with Banco Nacional de México, S.A., is set for a five-year term, reinforcing GAP’s commitment to maintaining robust financial health.

Financial Terms and Future Plans

This refinancing initiative will see interest payments structured as a variable rate equivalent to SOFR plus 81 basis points, with no additional commissions involved. It's designed to streamline GAP's financial operations while ensuring that the principal is settled by maturity, projected to be five years from now.

Commitment to Sustainable Growth

Through this refinancing, Grupo Aeroportuario del Pacífico aims to secure stability for its financial portfolio, enabling future investments and improvements in airport infrastructure and operations. These plans are essential for maintaining and enhancing their service quality across the airports they operate.

Overview of Grupo Aeroportuario del Pacífico

Operating 12 strategically located airports in Mexico’s Pacific region, GAP connects major urban centers such as Guadalajara and Tijuana to popular tourist hotspots like Puerto Vallarta and Los Cabos. In 2006, GAP made its debut on the New York Stock Exchange under the ticker symbol “PAC” and is listed on the Mexican Stock Exchange as “GAP”. Since its establishment, GAP has grown its influence significantly, even expanding its reach internationally by acquiring a majority stake in MBJ Airports Limited, which operates Sangster International Airport in Jamaica.

International Expansion and Strategic Initiatives

GAP is not solely focused on domestic airport operations; the company's strategic initiatives also spotlight international growth. The acquisition of the Norman Manley International Airport in Jamaica showcases GAP's ambition to diversify and strengthen its portfolio further. This move is anticipated to enhance its operational capabilities while contributing to regional travel demands.

Whistleblower Program and Corporate Governance

In line with regulatory standards and its commitment to ethical practices, GAP has implemented a whistleblower program. This initiative allows individuals to report any suspected illegal activities or violations anonymously. The company prioritizes transparency and accountability, reflecting in their operational policies aimed at fostering trust within its community.

Connect with Grupo Aeroportuario del Pacífico

For further inquiries or concerns, GAP encourages communication through its designated channels. Alejandra Soto, the Investor Relations and Social Responsibility Officer, and Gisela Murillo from Investor Relations are available for direct correspondence. They can be reached via email, ensuring an efficient flow of information.

Frequently Asked Questions

What is the total amount of the credit line being refinanced by GAP?

The credit line being refinanced by Grupo Aeroportuario del Pacífico amounts to USD $40 million.

Which financial institution is handling the refinancing?

The refinancing is being conducted with Banco Nacional de México, S.A. (Banamex).

How long is the term for the newly refinanced credit?

The term for the newly refinanced credit line is set for five years.

How does GAP ensure compliance and ethical reporting?

GAP has implemented a whistleblower program allowing for confidential and anonymous reporting of any unlawful activities or violations.

What are the future plans for Grupo Aeroportuario del Pacífico?

GAP aims to utilize the refinanced credit to support ongoing investment and enhancements in airport operations and infrastructure, alongside expanding its international footprint.

About The Author

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