Grupo Aeroportuario del Pacifico Announces Credit Line Refinancing for USD$40.0 Million
Grupo Aeroportuario del Pacifico (NYSE: PAC) has successfully refinanced its USD$40.0 million credit facility with Citibanamex that matured on March 21, 2025. The refinancing extends the maturity by 6 months to September 18, 2025, maintaining the same financial institution.
The new terms include monthly interest payments at a variable rate of SOFR plus 25 basis points, with no additional fees. GAP operates a network of 12 airports across Mexico's Pacific region, including major cities like Guadalajara and Tijuana, along with tourist destinations such as Puerto Vallarta and Los Cabos. The company also manages two airports in Jamaica - Sangster International Airport in Montego Bay and Norman Manley International Airport in Kingston.
Grupo Aeroportuario del Pacifico (NYSE: PAC) ha rifinanziato con successo la sua linea di credito di 40,0 milioni di dollari USA con Citibanamex, in scadenza il 21 marzo 2025. Il rifinanziamento estende la scadenza di 6 mesi fino al 18 settembre 2025, mantenendo la stessa istituzione finanziaria.
I nuovi termini includono pagamenti mensili degli interessi a un tasso variabile di SOFR più 25 punti base, senza ulteriori commissioni. GAP gestisce una rete di 12 aeroporti nella regione del Pacifico del Messico, comprese città importanti come Guadalajara e Tijuana, insieme a destinazioni turistiche come Puerto Vallarta e Los Cabos. L'azienda gestisce anche due aeroporti in Giamaica: l'Aeroporto Internazionale Sangster a Montego Bay e l'Aeroporto Internazionale Norman Manley a Kingston.
Grupo Aeroportuario del Pacífico (NYSE: PAC) ha refinanciado con éxito su línea de crédito de 40.0 millones de dólares con Citibanamex, que vencía el 21 de marzo de 2025. El refinanciamiento extiende el vencimiento por 6 meses hasta el 18 de septiembre de 2025, manteniendo la misma institución financiera.
Los nuevos términos incluyen pagos de intereses mensuales a una tasa variable de SOFR más 25 puntos básicos, sin comisiones adicionales. GAP opera una red de 12 aeropuertos en la región del Pacífico de México, incluyendo ciudades importantes como Guadalajara y Tijuana, junto con destinos turísticos como Puerto Vallarta y Los Cabos. La empresa también gestiona dos aeropuertos en Jamaica: el Aeropuerto Internacional Sangster en Montego Bay y el Aeropuerto Internacional Norman Manley en Kingston.
그룹 아에로포르타리오 델 파시피코 (NYSE: PAC)는 2025년 3월 21일 만기가 도래하는 시티바나멕스와의 4천만 달러 신용 시설을 성공적으로 재융자했습니다. 재융자는 만기를 6개월 연장하여 2025년 9월 18일까지 유지하며, 동일한 금융 기관을 유지합니다.
새로운 조건에는 SOFR 플러스 25 베이시스 포인트의 변동 금리에 따른 월별 이자 지급이 포함되며, 추가 수수료는 없습니다. GAP는 멕시코 태평양 지역에 12개의 공항 네트워크를 운영하고 있으며, 과달라하라와 티후아나와 같은 주요 도시와 푸에르토 발라르타 및 로스 카보스와 같은 관광지들을 포함합니다. 이 회사는 자메이카의 두 개 공항도 관리하고 있습니다: 몬테고 베이의 상스터 국제공항과 킹스턴의 노먼 맨리 국제공항입니다.
Grupo Aeroportuario del Pacifico (NYSE: PAC) a réussi à refinancer sa ligne de crédit de 40,0 millions USD avec Citibanamex, qui arrivait à échéance le 21 mars 2025. Le refinancement prolonge l'échéance de 6 mois jusqu'au 18 septembre 2025, tout en maintenant la même institution financière.
Les nouveaux termes incluent des paiements d'intérêts mensuels à un taux variable de SOFR plus 25 points de base, sans frais supplémentaires. GAP exploite un réseau de 12 aéroports dans la région du Pacifique du Mexique, y compris des villes majeures comme Guadalajara et Tijuana, ainsi que des destinations touristiques telles que Puerto Vallarta et Los Cabos. L'entreprise gère également deux aéroports en Jamaïque : l'aéroport international Sangster à Montego Bay et l'aéroport international Norman Manley à Kingston.
Grupo Aeroportuario del Pacifico (NYSE: PAC) hat erfolgreich seine 40,0 Millionen USD Kreditlinie bei Citibanamex refinanziert, die am 21. März 2025 fällig wird. Die Refinanzierung verlängert die Fälligkeit um 6 Monate bis zum 18. September 2025 und behält dasselbe Finanzinstitut bei.
Die neuen Bedingungen beinhalten monatliche Zinszahlungen zu einem variablen Satz von SOFR plus 25 Basispunkten, ohne zusätzliche Gebühren. GAP betreibt ein Netzwerk von 12 Flughäfen in der Pazifikregion Mexikos, einschließlich wichtiger Städte wie Guadalajara und Tijuana sowie touristischer Ziele wie Puerto Vallarta und Los Cabos. Das Unternehmen verwaltet auch zwei Flughäfen in Jamaika: den Sangster International Airport in Montego Bay und den Norman Manley International Airport in Kingston.
- Successfully refinanced USD$40 million credit facility
- Maintained same financial terms with no additional fees
- Secured short-term liquidity extension
- Short refinancing period of only 6 months indicates potential short-term financial planning
Insights
Grupo Aeroportuario del Pacífico's USD$40 million credit facility refinancing with Citibanamex represents a tactical financial management decision with several noteworthy aspects.
The 6-month extension maintains PAC's financial flexibility while securing favorable terms - SOFR plus 25 basis points without fees. This tight spread indicates lenders view PAC as a quality borrower with strong creditworthiness, reflecting positively on the company's financial standing.
However, the relatively short extension timeframe is intriguing. Rather than securing longer-term financing, management opted for a brief extension, which could indicate several strategic considerations:
- Anticipation of potentially more favorable interest rate conditions later in 2025
- Alignment with upcoming cash flow patterns or planned capital expenditures
- Maintaining optionality in their debt structure during uncertain economic conditions
For context, this $40 million facility represents less than 0.5
The variable rate structure tied to SOFR keeps PAC's borrowing costs aligned with prevailing market rates, though it does maintain some interest rate risk compared to fixed-rate alternatives. The principal payment scheduled for September 18, 2025, creates a clear timeline for PAC's treasury team to evaluate longer-term financing strategies.
GUADALAJARA, Mexico, March 21, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces it has completed the refinancing of the credit facility that matured today with Banco Nacional de México, S.A., (“Citibanamex”) for 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 |
FAQ
What are the terms of PAC's new USD$40 million credit facility refinancing?
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