Grupo Aeroportuario del Pacifico Announces Issuance of Sustainability-Linked Bond Certificates in Mexico for Ps. 2.8 Billion

GUADALAJARA, Mexico, Sept. 26, 2022 (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 27,575,876 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. 2,757,587,600 (Two billion seven hundred fifty-seven million five hundred eighty-seven thousand six hundred pesos 00/100 M.N.).

The bond certificates were issued in accordance with the following terms:

• 27,575,876 bond certificates were issued under the ticker symbol “GAP 22L”, at a nominal value of Ps. 100 (One hundred pesos 00/100) each, for a total value of Ps. 2,757,587,600 (Two billion seven hundred fifty-seven million five hundred eighty-seven thousand six hundred pesos 00/100 M.N.)
• Interest will be payable every 28 days at a variable rate of TIIE-28 plus 26 basis points; and
• Principal will be due at maturity on September 21, 2026, with an early payment option.
  

In accordance with the Sustainability-Linked Bond Framework, GAP will annually publish, within its Annual Sustainability Report, an update on the Sustainability-Linked Bond, which will include information regarding the Key Performance Indicator.

The Key Performance Indicator is the reduction of absolute scope 1 and 2 greenhouse gas emissions and will be verified by December 31, 2025 and audited by an external party, in case the target is not met, there will be an upward adjustment of 0.2% to the nominal value of the bond certificates at the expiration date.

The issuance obtained the highest credit ratings in Mexico, “Aaa.mx” by Moody’s and “mxAAA” by S&P, both on a national scale with a stable outlook. Additionally, the Company obtained a Second Party Opinion by Sustainalytics, in accordance with the best practices in the industry.

The proceeds from this issuance will be allocated to the payment of the bond certificates under the ticker symbol “GAP 17-2” issued in November 2017 and maturing on November 3, 2022, for an amount of Ps. 2.3 billion and the remainder will be used for capital investments.

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 operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.