Grupo Aeroportuario del Pacífico Secures Funding through Bond Issue
Grupo Aeroportuario del Pacífico Issues Bonds for Growth
Grupo Aeroportuario del Pacífico, S.A.B. de C.V., also known as GAP, has recently announced an exciting development in their financial strategy. The company successfully issued a total of 56,481,343 long-term bond certificates in Mexico, valued at Ps. 5,648,134,300. These bonds represent a pivotal move, offering investors the opportunity to engage with a prominent player in the airport operations sector, which operates across key locations in Mexico.
Significance of the Bond Issuance
These long-term bonds are being issued under the ticker symbol "GAP 24" and will provide investors with an attractive way to earn interest. The bonds will pay interest every 28 days at a variable rate tied to TIIE-28, plus an additional 60 basis points. The principal amount is set to be paid upon maturity on August 30, 2029, making it a structured and reliable investment option for stakeholders.
Strong Credit Ratings Support the Issuance
The issuance has been well-received, achieving an over-subscription of 1.2x compared to the original amount anticipated, indicating strong market confidence. Credit ratings of "Aaa.mx" from Moody's and "MxAAA" from S&P provide further assurance of the security and reliability embodied in these bonds.
Use of Proceeds: A Focus on Growth and Stability
Funds raised from this issuance are primarily earmarked for repaying earlier bond certificates under the ticker "GAP 15", which mature on February 7, 2025. In addition to refinancing, a significant portion of the proceeds will be applied toward the committed capital investments outlined in the company’s Master Development Program, ensuring that GAP continues to enhance its operational capabilities and supports ongoing commercial investments across its airport network.
About Grupo Aeroportuario del Pacífico
Grupo Aeroportuario del Pacífico operates 12 airports across Mexico's Pacific region, including bustling cities such as Guadalajara and Tijuana, as well as popular tourist destinations like Puerto Vallarta and Los Cabos. Since listing on the New York Stock Exchange and the Mexican Stock Exchange in 2006, the company has grown to encompass a major stake in international airport operations, recently expanding its portfolio to include facilities in Jamaica.
Ensuring Transparency and Accountability
In alignment with corporate governance standards and regulatory compliance, GAP has implemented a whistleblower program. This initiative allows individuals to report suspected violations anonymously, ensuring that issues can be addressed swiftly and efficiently. This commitment to ethical conduct reaffirms GAP's dedication to transparency.
Get in Touch
For more information or inquiries, the following key contacts are available:
Alejandra Soto, Investor Relations and Social Responsibility Officer - asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations - gmurillo@aeropuertosgap.com.mx / +52 33 3880 1100 ext. 20294
Frequently Asked Questions
What is the total value of the bonds issued by GAP?
The total value of the bonds issued by Grupo Aeroportuario del Pacífico is Ps. 5,648,134,300.
What is the maturity date of the new bonds?
The new bonds will mature on August 30, 2029.
What is the significance of the bond under the ticker "GAP 24"?
The ticker "GAP 24" indicates the specific bond issuance which pays interest at a variable rate.
How will the proceeds from the bond issuance be used?
The proceeds will fund the repayment of earlier bonds and support capital investments under the Master Development Program.
What are the credit ratings for this bond issuance?
The bonds have received "Aaa.mx" from Moody's and "MxAAA" from S&P, indicating high credit quality.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- How Desert Horizons Shapes Cannabis Through White-Labeling
- Starwood Property Trust Secures Additional Shares for Growth
- Investigation into XPEL's Market Challenges and Legal Issues
- GAP Successfully Issues Bond Certificates to Boost Growth
- Explore Innovations at Globe Summit 2024: Boston's Breakthroughs
- Broadcom Delivers Impressive Q3 Performance With AI Growth
- Jacobs Technology Inc. Secures NASA Langley Support Contract
- Newcore Gold Secures $5 Million in Private Placement
- Lingerfelt Secures Major Lease with PECO Pallet at Port 801
- Eastside Distilling Secures $0.4 Million in Direct Stock Offering
Recent Articles
- Transforming Efficiency in Airport Baggage Handling Systems
- Exploring the Rising Trends in Underwriting Software Market
- Investigation into American Airlines Claims by Faruqi & Faruqi, LLP
- Celebrating Dr. Shlomo Shinnar's Induction as Pinnacle Member
- Atisha N. Burks: Celebrating a Leader in Financial Management
- Trump's Proposal for a U.S. Sovereign Wealth Fund
- Governments Unite to Enhance Housing Initiatives
- Ross O'Brien Introduces Art Moto Festival 2024 for Charity
- Faruqi & Faruqi Launches Investigation into Orthofix Claims
- Argentina Analysts Revise 2024 Inflation Predictions Significantly
- Japanese Household Spending Shows Slight Increase in July
- Bitnine Global Partners with CGI for $3 Million Agreement
- Investors of Vicor Corporation Urged to Explore Legal Options
- New Law Boosts Retail Worker Safety in New York State
- How Desert Horizons Shapes Cannabis Through White-Labeling
- Starwood Property Trust Expands Share Offering with Success
- Introducing The Bluffs at Whiskey Ridge: A Grand Opening Event
- WEBTOON Entertainment Faces Legal Trouble as Lawsuit Is Filed
- Vine Hill Capital Investment Corp. Gets Ready for IPO Launch
- Century Communities Unveils Grand Opening for New Homes
- UK's Economic Growth Demands $1.3 Trillion Investment Strategy
- Investors Urged to Participate in Symbotic Class Action Lawsuit
- Investors Seek Leadership in Oddity Tech Fraud Case
- Baby Care Products Market Set for Significant Growth Ahead
- Perseus Mining Boosts Stake in Predictive Discovery to 19.9%
- Rand Logistics Welcomes New Leadership and Board Members
- Join the Class Action Against Super Micro Computer, Inc. Today
- Starwood Property Trust Secures Additional Shares for Growth
- US Urges Extension of UN Security Mission in Haiti
- AWAIM Launches Its Portfolio Solutions for Financial Advisors
- Faruqi & Faruqi Investigates Lifecore Biomedical Claims
- Investigation into CrowdStrike Holdings Inc. by Faruqi & Faruqi
- Investigation into XPEL's Market Challenges and Legal Issues
- Intel's Strategic Shift: Evaluating Mobileye's Future
- Investors Urged to Discuss Legal Strategy on Ford Losses
- Survey Shows Users Favor Unrestricted AI Interaction
- Empowerment Unleashed: WayMaker Men's Summit Ignites Growth
- Grupo Aeroportuario del Pacífico Secures Funding through Bond Issue
- Scannit Launches Innovative App to Empower Users Financially
- Red Pine Exploration Expands Private Placement to C$9.57 Million
- NeuroOne Medical to Showcase Innovations at Investor Conference
- Cognac Market Growth Driven by Health Trends and Innovation
- Industrial Automation Market Growth Fueled by AI Innovations
- Crypto Expert Foresees Bullish Bitcoin Trends Amid Economic Shifts
- EastGroup Properties Reports Strong Performance and Growth Plans
- Braze, Inc. Reports Impressive Q2 Earnings Performance
- Body-Worn Camera Market Set to Reach USD 27.65 Billion by 2033
- Sysco Corporation Expands Electric Vehicle Fleet in Canada
- GAP Successfully Issues Bond Certificates to Boost Growth
- Fortis Inc. Successfully Prices Major Unsecured Notes Offering