Grupo Aeroportuario del Pacífico (NYSE: PAC) refinances $95.5M loan
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Grupo Aeroportuario del Pacífico refinanced a bank loan of USD$95.5 million with BBVA México, replacing a facility that matured on the same date. The new loan runs for six months, with an option to extend for another six months, and monthly interest at a variable rate of SOFR plus 40 basis points.
The financing includes a 10-basis-point structuring fee and an additional 10-basis-point fee if the extension option is used, with principal due at maturity. GAP continues to operate 12 airports in Mexico’s Pacific region and two major international airports in Jamaica.
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FAQ
What did Grupo Aeroportuario del Pacífico (PAC) announce in this Form 6-K?
Grupo Aeroportuario del Pacífico refinanced a USD$95.5 million bank loan with BBVA México. The prior loan matured the same day, and the new facility keeps similar funding in place under updated terms, including a short-term structure and SOFR-based variable interest rate.
What are the key terms of Grupo Aeroportuario del Pacífico’s new USD$95.5 million loan?
The new USD$95.5 million loan has a six-month term with an option to extend another six months. Interest is payable monthly at a variable rate of SOFR plus 40 basis points, with a 10-basis-point structuring fee and another 10 basis points if extended.
When will the principal on Grupo Aeroportuario del Pacífico’s refinanced loan be repaid?
The principal on the refinanced USD$95.5 million loan will be paid at maturity. The agreement runs for six months initially, with an option to extend for an additional six months, so repayment timing depends on whether GAP exercises the extension feature.
Who is the lender on Grupo Aeroportuario del Pacífico’s new USD$95.5 million facility?
The refinanced USD$95.5 million facility was entered into with BBVA México, S.A. GAP replaced a maturing bank loan from the same institution with this new agreement, maintaining its banking relationship while updating the loan’s term and pricing structure.
What airports does Grupo Aeroportuario del Pacífico (PAC) operate in Mexico and Jamaica?
Grupo Aeroportuario del Pacífico operates 12 airports in Mexico’s Pacific region, including Guadalajara, Tijuana, Puerto Vallarta, Los Cabos and others. It also controls Sangster International Airport in Montego Bay and operates Norman Manley International Airport in Kingston, both in Jamaica.