GAP paid Ps. 2,500 million for “GAP 21” debt securities using proceeds from a recent long-term debt issuance.
Quiver AI Summary
Grupo Aeroportuario del Pacífico (GAP) announced that it successfully made a payment on May 2, 2025, for its debt securities “GAP 21,” totaling Ps. 2,500 million for 25 million long-term securities, with the payment funded by proceeds from a previous debt issuance on February 4, 2025. GAP operates 12 airports across Mexico’s Pacific region, including major cities and tourist destinations. The company, publicly traded on the NYSE (PAC) and the BMV (GAP), has expanded its operations internationally, notably in Jamaica. The press release highlights forward-looking statements regarding GAP's financial and operational strategies while emphasizing the associated risks and uncertainties. Additionally, it outlines the implementation of a whistleblower program for reporting misconduct, managed confidentially by a third party.
Potential Positives
- The timely payment of Ps. 2,500 million for the "GAP 21" debt securities demonstrates the company's financial stability and effective debt management.
- This payment was financed through the issuance of long-term debt securities, indicating access to capital markets and confidence in the company's creditworthiness.
- The press release highlights the company's diverse operations across key airports in Mexico and Jamaica, reinforcing its strategic presence in significant travel markets.
- Implementation of a whistleblower program reflects the company's commitment to transparency and ethical practices, which can enhance its corporate governance reputation.
Potential Negatives
- The company’s reliance on issuing new long-term debt securities to make payments on existing debt may raise concerns about its financial stability and ability to manage debt responsibly.
- The announcement lacks detail regarding the company's overall financial performance and plans for future debt management, which could lead to investor apprehension about financial health.
- There are risks associated with the forward-looking statements mentioned, as they highlight uncertainty in achieving expected financial performance and results, reflecting potentially volatile operational conditions.
FAQ
What recent financial action did Grupo Aeroportuario del Pacífico take?
On May 2, 2025, GAP made a payment of Ps. 2,500.0 million for the maturity of debt securities “GAP 21”.
How many airports does Grupo Aeroportuario del Pacífico operate?
GAP operates 12 airports across Mexico's Pacific region, including major cities and tourist destinations.
When was Grupo Aeroportuario del Pacífico listed on the stock exchange?
GAP was listed on the New York Stock Exchange in February 2006 under the ticker symbol "PAC".
What is GAP's whistleblower program?
The whistleblower program allows anonymous reporting of suspected criminal conduct or violations to GAP's Audit Committee.
Who to contact for Investor Relations at GAP?
Alejandra Soto and Gisela Murillo handle Investor Relations; they can be reached via their respective emails.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
GUADALAJARA, Mexico, May 05, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE:PAC; BMV: GAP) (“the Company” or “GAP”) announces that on Friday, May 2, 2025, the payment corresponding to the maturity of the debt securities “GAP 21” was made, equivalent to 25 million long-term debt securities with face value of Ps. 100.0 each, for a total amount of Ps. 2,500.0 million.
The payment was made with proceeds obtained from the issuance of long-term debt securities on February 4, 2025.
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 Concessioner 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 Norman Manley International Airport operation 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 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 involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is
www.lineadedenunciagap.com
or by email at
[email protected]
. GAP’s Audit Committee will be notified of all complaints for immediate investigation.
Alejandra Soto, Investor Relations and Social Responsibility Officer
|
[email protected]
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Gisela Murillo, Investor Relations | [email protected]/+52 33 3880 1100 ext. 20294 |