GAP refinances $40 million credit line with Banamex for five years, maintaining variable interest and principal payment due in 2030.
Quiver AI Summary
Grupo Aeroportuario del Pacífico (GAP) has announced the refinancing of a $40 million credit line with Banco Nacional de México (Banamex), extending the term to five years with monthly interest payments based on SOFR plus 81 basis points, with principal repayment due by September 18, 2030. GAP operates 12 airports across Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and has expanded its operations internationally, managing airports in Jamaica as well. The release also includes a reminder that it may contain forward-looking statements concerning the company's future performance, subject to various risks and uncertainties. Additionally, GAP has established a whistleblower program for reporting suspected violations, reinforcing its commitment to compliance and accountability.
Potential Positives
- Successful refinancing of a USD $40.0 million credit line strengthens the company's financial position and extends maturity to 2030.
- Agreement with Banco Nacional de México signals confidence in the company's stability and relationship with financial institutions.
- The variable interest rate tied to SOFR with no additional commissions may result in lower financing costs over time.
- Implementation of a whistleblower program demonstrates GAP's commitment to corporate governance and ethical practices.
Potential Negatives
- The refinancing of the credit line for USD $40.0 million could indicate potential liquidity issues or reliance on debt financing, raising concerns about the company’s financial stability.
- The variable interest rate linked to SOFR may expose the company to fluctuations in interest rates, which could increase financial costs over time.
- The announcement lacks specific details about how this refinancing will impact the company’s long-term financial strategy or performance, leaving investors with uncertainty.
FAQ
What is the refinancing amount announced by Grupo Aeroportuario del Pacífico?
Grupo Aeroportuario del Pacífico announced a refinancing of a USD $40.0 million credit line.
Who is the financial institution involved in the refinancing?
The refinancing is conducted with Banco Nacional de México, S.A. (Banamex).
What is the term duration of the new credit line?
The new credit line has a five-year term, maturing on September 18, 2030.
What type of interest rate will be applied to the refinancing?
The interest rate will be a variable rate equivalent to SOFR plus 81 basis points.
How many airports does Grupo Aeroportuario del Pacífico operate?
GAP operates a total of 12 airports throughout Mexico’s Pacific region.
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, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces the refinancing of a USD $40.0 million credit line, maturing today, with Banco Nacional de México, S.A. (“Banamex”), for a five-year term with the same financial institution. Interest will be payable monthly at a variable rate equivalent to SOFR plus 81 basis points, with no additional commissions. The payment of the principal will be due at maturity, on September 18, 2030.
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] |
Gisela Murillo, Investor Relations | [email protected] |
+52 33 3880 1100 ext. 20294 |