Grupo Aeroportuario del Pacifico Announces the Extension of a USD$60.0 Million Credit Line for Its Subsidiary MBJ Airports Limited (MBJA)
Grupo Aeroportuario del Pacifico (NYSE:PAC) has announced that its subsidiary, MBJ Airports (MBJA), has successfully extended its USD$60.0 million credit line with the Bank of Nova Scotia and Bank of Nova Scotia Jamaica The extension pushes the maturity date to October 4, 2029.
The credit facility features a monthly interest rate of SOFR plus 200 basis points and will be repaid through ten equal semi-annual installments of USD$6.0 million each. The extension process included a commission fee of USD$300,000.
Grupo Aeroportuario del Pacifico (NYSE:PAC) ha annunciato che la sua controllata, MBJ Airports (MBJA), ha esteso con successo la sua linea di credito di 60,0 milioni di dollari USA con la Bank of Nova Scotia e la Bank of Nova Scotia Jamaica. L'estensione sposta la data di scadenza al 4 ottobre 2029.
La struttura di credito prevede un tasso d'interesse mensile di SOFR più 200 punti base e sarà rimborsata attraverso dieci rate semestrali uguali di 6,0 milioni di dollari USA ciascuna. Il processo di estensione ha incluso una commissione di 300.000 dollari USA.
Grupo Aeroportuario del Pacifico (NYSE:PAC) ha anunciado que su filial, MBJ Airports (MBJA), ha ampliado con éxito su línea de crédito de 60,0 millones de dólares estadounidenses con el Bank of Nova Scotia y el Bank of Nova Scotia Jamaica. La extensión pospone la fecha de vencimiento al 4 de octubre de 2029.
La línea de crédito presenta una tasa de interés mensual de SOFR más 200 puntos básicos y se reembolsará a través de diez cuotas semestrales iguales de 6,0 millones de dólares estadounidenses cada una. El proceso de extensión incluyó una tarifa de comisión de 300,000 dólares estadounidenses.
태평양 공항 그룹 (NYSE:PAC)는 자회사인 MBJ 공항(MBJA)이 노바 스코샤 은행 및 노바 스코샤 자메이카 은행과의 6000만 달러 신용 한도를 성공적으로 연장했다고 발표했습니다. 이 연장은 만기일을 2029년 10월 4일로 연장합니다.
신용 시설은 SOFR 플러스 200 베이시스 포인트의 월 이자율을 특징으로 하며, 각각 600만 달러의 10회 동일 반기 분할 상환을 통해 상환됩니다. 연장 과정에는 30만 달러의 수수료가 포함되었습니다.
Grupo Aeroportuario del Pacifico (NYSE:PAC) a annoncé que sa filiale, MBJ Airports (MBJA), a réussi à étendre sa ligne de crédit de 60,0 millions de dollars américains avec la Bank of Nova Scotia et la Bank of Nova Scotia Jamaica. L'extension repousse la date d'échéance au 4 octobre 2029.
La facilité de crédit présente un taux d'intérêt mensuel de SOFR plus 200 points de base et sera remboursée par dix versements semestriels égaux de 6,0 millions de dollars chacun. Le processus d'extension a inclus des frais de commission de 300 000 dollars.
Grupo Aeroportuario del Pacifico (NYSE:PAC) hat bekannt gegeben, dass ihre Tochtergesellschaft, MBJ Airports (MBJA), erfolgreich ihre 60,0 Millionen USD Kreditlinie bei der Bank of Nova Scotia und der Bank of Nova Scotia Jamaica verlängert hat. Die Verlängerung verschiebt das Fälligkeitsdatum auf den 4. Oktober 2029.
Die Kreditfazilität hat einen monatlichen Zinssatz von SOFR plus 200 Basispunkte und wird durch zehn gleiche halbjährliche Raten in Höhe von jeweils 6,0 Millionen USD zurückgezahlt. Der Verlängerungsprozess beinhaltete eine Provision von 300.000 USD.
- Successful extension of USD$60M credit line improves liquidity position
- Long-term maturity until October 2029 provides financial flexibility
- Manageable semi-annual repayment structure of USD$6M
- USD$300,000 commission fee for credit line extension
- Monthly interest rate of SOFR+200bps adds to financing costs
Insights
GAP's extension of a
In context, this
This refinancing likely doesn't significantly alter GAP's overall financial position but does ensure continued access to capital for its Jamaican operations. Since acquiring Sangster International Airport in 2015 and Norman Manley International Airport in 2019, GAP has maintained a strategic presence in Jamaica, and this credit line extension suggests the banking relationships supporting these operations remain stable.
The structure of equal installments indicates disciplined financial planning, while the 200 basis point spread over SOFR reflects standard risk pricing for subsidiary-level debt in emerging markets. This transaction represents routine financial management rather than a signal of new strategic initiatives or material change in GAP's capital structure.
GUADALAJARA, Mexico, March 31, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE:PAC; BMV: GAP) (“the Company” or “GAP”) announces that its subsidiary, MBJ Airports Limited (MBJA), has extended the maturity date to October 4, 2029, of its USD
The credit line carries a monthly interest rate of SOFR plus 200 basis points and will be repaid in ten equal semi-annual installments of 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 extended credit line for MBJ Airports ?
How much is the commission fee for PAC's credit line extension?
What is the repayment structure for PAC's MBJA credit facility?
Which banks provided the credit line extension to PAC's MBJA subsidiary?
