Grupo Aeroportuario del Pacifico Announces the Issuance of Bond Certificates for Ps. 10,718.0 Million
Rhea-AI Summary
Grupo Aeroportuario del Pacífico (NYSE: PAC) completed a Ps. 10,718.0 million long-term bond issuance on March 31, 2026, via two tranches with 1.74x oversubscription.
GAP 26: Ps. 2,767.0 million, 3-year, interest TIIE +45 bps, maturity March 27, 2029. GAP 26-2: Ps. 7,951.0 million, 10-year, fixed 9.87%, maturity March 18, 2036. Both tranches received national ratings Aaa.mx and mxAAA (stable). Proceeds will primarily finance the acquisition of a 25% stake in Cross Border Xpress and fund 2025–2029 Master Development Program capex.
Positive
- Ps. 10,718.0 million raised via two-tranche bond issuance
- Issuance oversubscribed 1.74x, indicating strong investor demand
- Both tranches rated Aaa.mx and mxAAA with stable outlook
Negative
- Fixed 9.87% interest on Ps. 7,951.0 million increases medium-term interest expense
- Long-term debt maturing March 18, 2036 extends interest and repayment obligations
News Market Reaction – PAC
In the Apr 1 session, PAC gained 0.69%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 23 | Bond maturity payment | Positive | +2.9% | Used new Ps.1,120.0m credit facility to fully pay bond GAP 23L. |
| Mar 23 | Sustainability KPI assurance | Positive | +0.0% | Independent assurance confirmed emissions-reduction KPI tied to multiple SLBs. |
| Mar 19 | Loan refinancing | Neutral | -2.0% | Refinanced USD$95.5m bank loan with new short-term BBVA México facility. |
| Mar 09 | Shareholder meeting call | Positive | +0.7% | Called AGM with proposed dividend and new MXN 2.5bn share repurchase plan. |
| Mar 06 | Traffic update | Negative | -0.4% | Reported 5.5% YoY February passenger decline driven by storms and cancellations. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent corporate and financing updates have generally aligned with modestly positive or stable price reactions, with only one notable divergence on a refinancing headline.
Over recent months, PAC has reported several financing and corporate developments. In March 2026, it paid bond “GAP 23L” using a Ps.1,120.0 million Scotiabank credit facility and separately refinanced a USD$95.5 million loan with BBVA México. The company also highlighted independent assurance on KPIs for multiple sustainability-linked bonds and called an Annual Shareholders’ Meeting proposing a MXN 20.80 per-share dividend and a MXN 2.5 billion buyback. A 5.5% February traffic decline contrasted with these financial-strength signals. Today’s sizeable bond issuance fits this ongoing balance-sheet management pattern.
Key Terms
certificados bursátiles financial
basis points financial
tiie funding rate financial
aaa.mx financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
GUADALAJARA, Mexico, March 31, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that today it successfully completed the issuance in the Mexican market of 107.18 million long-term bond certificates (certificados bursátiles), for a total amount of Ps. 10,718.0 million.
The issuance was carried out through two tranches and reached an oversubscription of 1.74x over the announced amount.
The main characteristics of the transaction are as follows:
- “GAP 26”: Issuance of 27.67 million long-term debt securities with a three-year maturity, each with a nominal value of Ps. 100.0, for a total amount of Ps. 2,767.0 million. Interest will be payable every 28 days at a variable rate equal to TIIE funding rate plus 45 basis points. Principal payment is due at maturity, on March 27, 2029, with an option for early amortization.
- “GAP 26-2”: Issuance of 79.51 million long-term debt securities with a ten-year maturity, each with a nominal value of Ps. 100.0, for a total amount of Ps. 7,951.0 million. Interest will be payable every 182 days at a fixed rate of
9.87% . Principal payment is due at maturity, on March 18, 2036, with an option for early amortization.
Both issuances obtained the highest credit ratings on the national scale: “Aaa.mx” by Moody’s and “mxAAA” by S&P, with a stable outlook.
The proceeds from the issuance will be primarily used to finance the acquisition of the
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 | Facebook: AeropuertosGAP X: @aeropuertosGAP Instagram: @aeropuertosgap |
| Gisela Murillo, Investor Relations | gmurillo@aeropuertosgap.com.mx +52 33 3880 1100 ext. 20294 | |
