Grupo Aeroportuario del Pacifico Announces Issuance of Bond Certificates in Mexico For Ps. 4.5 Billion
GUADALAJARA, Mexico, May 07, 2021 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announced today that it successfully completed
the issuance of 45 million long-term bond certificates in Mexico (Certificados Bursátiles) at a nominal value of Ps. 100 each (One hundred pesos 00/100), for a total value of Ps. 4.5
billion, issued jointly. The amount of the issuance was up to Ps. 3.0 billion with a greenshoe option of up to 50%, which was reached at the closing of the issuance.
The bond certificates were issued in accordance with the following terms:
- 25 million 4-year bond certificates were issued under the ticker symbol “GAP21”, at a nominal value of Ps. 100 (One hundred pesos 00/100) each, for a total value of
Ps.2.5 billion (Two point five billion pesos 00/100). Interest will be payable every 28 days at a variable rate of TIIE-28 plus 60 basis points; the principal will be due at maturity on May 2,
2025, with an early payment option.
- 20 million 7-year bond certificates were issued under the ticker symbol “GAP21-2”, at a nominal value of Ps. 100 (One hundred pesos 00/100) each, for a total value
of Ps. 2.0 billion (Two billion pesos 00/100). Interest will be payable every 182 days at a fixed rate of 7.91%; the principal will be due at maturity on April 28, 2028, with an early payment
Proceeds from the issuance will be allocated to commercial investments and fulfilling investments committed under the Master Development Program in Mexico, as well as the paying of financial liabilities due in July 2021.
The issuances obtained credit ratings of “Aaa.mx” by Moody’s and “MxAAA” by S&P, on a national scale.
The order book reached an over-subscription of 5.8x over the Ps. 3.0 billion.
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 operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.