Grupo Aeroportuario del Pacifico Announces the Extension of a USD$60.0 Million Credit Line for Its Subsidiary MBJ Airports Limited (MBJA)
Rhea-AI Summary
Grupo Aeroportuario del Pacifico (NYSE:PAC) has announced that its subsidiary, MBJ Airports (MBJA), has successfully extended its USD$60.0 million credit line with the Bank of Nova Scotia and Bank of Nova Scotia Jamaica The extension pushes the maturity date to October 4, 2029.
The credit facility features a monthly interest rate of SOFR plus 200 basis points and will be repaid through ten equal semi-annual installments of USD$6.0 million each. The extension process included a commission fee of USD$300,000.
Positive
- Successful extension of USD$60M credit line improves liquidity position
- Long-term maturity until October 2029 provides financial flexibility
- Manageable semi-annual repayment structure of USD$6M
Negative
- USD$300,000 commission fee for credit line extension
- Monthly interest rate of SOFR+200bps adds to financing costs
News Market Reaction – PAC
In the trading session that priced this news, PAC gained 1.48%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GUADALAJARA, Mexico, March 31, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE:PAC; BMV: GAP) (“the Company” or “GAP”) announces that its subsidiary, MBJ Airports Limited (MBJA), has extended the maturity date to October 4, 2029, of its USD
The credit line carries a monthly interest rate of SOFR plus 200 basis points and will be repaid in ten equal semi-annual installments of USD
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
| 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 |
