Grupo Aeroportuario del Pacifico Announces Refinancing of Bank Loan for USD$95.5 Million

Grupo Aeroportuario del Pacífico (NYSE: PAC) refinanced a bank loan of USD$95.5 million with BBVA México on March 19, 2026.

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (NYSE: PAC) refinanced a bank loan of USD$95.5 million with BBVA México on March 19, 2026. The new facility has a six-month term, an option to extend another six months, interest at SOFR +40 bps, a 10 bps structuring fee, and principal payable at maturity.

Positive

• Refinanced USD$95.5 million loan with same lender
• Facility includes a six-month extension option enhancing flexibility
• Interest spread set at SOFR +40 bps, a relatively low variable spread

Negative

• Short initial term (6 months) creates near-term refinancing risk
• Variable-rate exposure to SOFR could raise interest cost if rates rise
• Transaction includes fees: 10 bps structuring and additional 10 bps if extended

Argus Mar 20 session

-1.97% close to close Open Argus

Details

News Market Reaction – PAC

On Mar 20, the first trading day after this news, PAC closed 1.97% below the previous close.

Data tracked by StockTitan Argus for the Mar 20 session.

Key Figures

Refinanced loan size: USD$95.5 million Initial loan term: 6 months Extension option: Additional 6 months +4 more

Refinanced loan size

USD$95.5 million

Bank loan refinanced with BBVA México, due March 19, 2026

Initial loan term

6 months

New financing agreement term

Extension option

Additional 6 months

Option to extend new loan term

Interest spread

SOFR + 40 basis points

Variable interest rate on refinanced loan

Structuring fee

10 basis points

Upfront fee on new loan

Extension fee

10 basis points

Additional fee if extension option exercised

Principal repayment

At maturity

Principal due at loan maturity date

Historical Context

5 past events · Latest: Mar 09

5 events

1. Mar 09

   Shareholders’ meeting call

   24h Move

   +0.7%

   Annual meeting notice with proposed dividend and new buyback authorization.

2. Mar 06

   Traffic update

   24h Move

   -0.4%

   Reported 5.5% terminal passenger decline in February versus prior year.

3. Feb 23

   Quarterly earnings

   24h Move

   -5.3%

   4Q25 results with higher revenues but a 34.3% drop in comprehensive income.

4. Feb 05

   Traffic update

   24h Move

   +4.1%

   January traffic down 2.2% year-on-year despite growth at key Mexican airports.

5. Jan 20

   Debt refinancing

   24h Move

   +2.6%

   Refinanced USD 95.5M loan with 12‑month SOFR-based facility and early repayment option.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sofr, basis points, structuring fee, forward-looking statements, +2 more

6 terms

sofr financial

"interest payable monthly at a variable rate equivalent to SOFR plus 40 basis points"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

basis points financial

"variable rate equivalent to SOFR plus 40 basis points"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

structuring fee financial

"It also includes a structuring fee of 10 basis points"

A structuring fee is a one-time payment made to financial advisers or arrangers for designing and putting together a complex financing deal, such as a loan package, bond issue, or securitization. It matters to investors because it reduces the net proceeds to the issuer or raises the cost of capital, and its size can signal how complicated or risky the transaction is — like paying a consultant to tailor-make a financing solution.

forward-looking statements regulatory

"This press release may contain forward-looking statements."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

whistleblower regulatory

"GAP has implemented a “whistleblower” program, which allows complainants"

A whistleblower is an employee, contractor, or insider who alerts regulators, investors, or the public about illegal, unethical, or dangerous practices within an organization — like someone sounding an alarm in a crowded room. Their disclosures matter to investors because they can reveal hidden risks, trigger investigations, fines, or legal claims, and rapidly change a company’s reputation and stock value. Whistleblowers may receive legal protections and, in some cases, financial rewards.

audit committee regulatory

"GAP’s Audit Committee will be notified of all complaints"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GUADALAJARA, Mexico, March 19, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announced that today it refinanced a bank loan for USD$95.5 million with BBVA México, S.A., which was due on this same date, by entering into a new financing agreement with the same institution.

The new loan has a six-month term, with the option to extend for an additional six months, with interest payable monthly at a variable rate equivalent to SOFR plus 40 basis points. It also includes a structuring fee of 10 basis points and, if the extension option is exercised, an additional fee of 10 basis points. The principal will be paid at maturity.

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 denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the key terms of GAP's March 19, 2026 USD$95.5 million refinancing (PAC)?

The loan is for USD$95.5 million with a six-month term and an optional six-month extension. According to the company, interest is payable monthly at SOFR +40 bps, principal is due at maturity, and a 10 bps structuring fee applies.

How does the six-month term affect GAP shareholders after the March 2026 refinancing (PAC)?

The short term means near-term rollover risk for the company if markets tighten. According to the company, the loan includes a one-time extension option for six months, which gives temporary flexibility but doesn't eliminate refinancing needs.

What interest costs will GAP face on the new BBVA loan announced March 19, 2026 (PAC)?

Interest is charged monthly at a variable rate of SOFR +40 bps, plus a 10 bps structuring fee. According to the company, an extra 10 bps fee applies only if the six-month extension option is exercised.

Does GAP have to repay principal before maturity on the March 2026 BBVA refinancing (PAC)?

No, the principal is payable in full at maturity rather than amortized over the term. According to the company, the agreement specifies a single principal payment at the loan's maturity date.

Who provided the refinancing and what extension options exist in GAP's March 19, 2026 loan (PAC)?

The loan was refinanced with BBVA México and carries a six-month term with an option to extend for an additional six months. According to the company, extension triggers an extra 10 bps fee and keeps interest at SOFR +40 bps.