Grupo Aeroportuario del Pacífico Announces Bond Issuance for Growth
Grupo Aeroportuario del Pacífico, S.A.B. de C.V., commonly referred to as GAP, has made an important announcement regarding its financial strategy. The company has successfully issued 56,481,343 long-term bond certificates in Mexico, totaling Ps. 5,648,134,300. This bond issuance marks a significant opportunity for investors to engage with a leading entity in the airport operations industry, which has a presence in several key locations throughout Mexico.
Importance of the Bond Issuance
The bonds, identified by the ticker symbol "GAP 24," offer investors an appealing way to earn interest. They will pay interest every 28 days at a variable rate linked to TIIE-28, plus an additional 60 basis points. The principal amount is scheduled to be repaid at maturity on August 30, 2029, making this a structured and dependable investment choice for stakeholders.
Strong Credit Ratings Bolster the Issuance
This bond issuance has garnered a positive response, with an over-subscription of 1.2 times the initially expected amount, reflecting strong confidence from the market. With credit ratings of "Aaa.mx" from Moody's and "MxAAA" from S&P, investors can feel assured about the security and reliability of these bonds.
Utilization of Proceeds: Emphasizing Growth and Stability
The funds generated from this bond issuance are primarily designated for repaying previous bond certificates under the ticker "GAP 15," which are set to mature on February 7, 2025. Beyond refinancing, a significant portion of the proceeds will be directed towards the committed capital investments outlined in the company’s Master Development Program. This ensures that GAP continues to improve its operational capabilities while supporting ongoing commercial investments across its airport network.
About Grupo Aeroportuario del Pacífico
Grupo Aeroportuario del Pacífico manages 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, as well as popular tourist spots such as Puerto Vallarta and Los Cabos. Since its listing on the New York Stock Exchange and the Mexican Stock Exchange in 2006, the company has established a significant presence in international airport operations and has recently expanded its portfolio to include facilities in Jamaica.
Commitment to Transparency and Accountability
In line with corporate governance standards and regulatory requirements, GAP has introduced a whistleblower program. This initiative allows individuals to report suspected violations anonymously, ensuring that any issues can be addressed quickly and effectively. This commitment to ethical conduct underscores GAP's dedication to transparency.
Contact Information
For further information or inquiries, please reach out to the following key contacts:
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" represents the specific bond issuance, which offers interest at a variable rate.
How will the proceeds from the bond issuance be used?
The proceeds will be used to repay earlier bonds and to finance 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.
