Grupo Aeroportuario del Pacifico Announces Debt Securities “GAP 17-2” Payment

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (PAC) announced the payment of Ps. 2,300 million for its "GAP 17-2" debt securities, totaling 23 million long-term securities. This payment was financed through proceeds from long-term debt securities issued on September 26, 2022. The company operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations. It's important to note that the release mentions potential risks associated with forward-looking statements regarding future operations and financial conditions.

Positive

• Successful payment of Ps. 2,300 million in debt securities enhances financial stability.
• Utilization of proceeds from recent long-term debt issuance indicates strong capital management.

Negative

• Dependence on market conditions for future financial performance raises concerns.

GUADALAJARA, Mexico, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) informs that today it was made the Ps. 2,300.0 million maturity payment on “GAP 17-2” debt securities (equal to 23 million long-term debt securities).

The payment was made with proceeds obtained from the issuance of long-term debt securities on September 26, 2022.

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 Concesiones 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.

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 actually 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 may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts: Saúl Villarreal, CFO Alejandra Soto, IRO & Corporate Finance Director Gisela Murillo, Investor Relations

svillarreal@aeropuertosgap.com.mx asoto@aeropuertosgap.com.mx gmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext.20294

Facebook   Aeropuertos GAP Twitter   @aeropuertosGAP Instagram   @aeropuertosgap

FAQ

What amount did Grupo Aeroportuario del Pacífico pay for GAP 17-2 debt securities?

Grupo Aeroportuario del Pacífico paid Ps. 2,300 million for GAP 17-2 debt securities.

When was the long-term debt security issuance that financed the payment made?

The long-term debt security issuance was made on September 26, 2022.

What is the significance of the GAP 17-2 payment for investors?

The payment of GAP 17-2 debt securities indicates the company's financial stability and effective capital management.

How many airports does Grupo Aeroportuario del Pacífico operate?

Grupo Aeroportuario del Pacífico operates 12 airports across Mexico's Pacific region.

What does the press release state about forward-looking statements?

The release mentions that forward-looking statements are subject to risks and uncertainties, and actual results may differ.