Grupo Aeroportuario Del Pacífico, S.A.B. De C.V. Announces Debt Refinancing for USD 191.0 Million
October 29, 2020 at 05:52 pm EDT
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Grupo Aeroportuario del Pacífico, S.A.B. de C.V. announced the successful refinancing of its bank debt for USD 191.0 million, due in January and February 2021. With this financing, the Company extended its short-term, dollar-denominated maturities, which provides more certainty with regards to the use of its financial resources for 2021. The refinancing was obtained from the same two Banking Institutions that originally granted these loans. The financing terms were the following: On October 19, the Company signed a credit refinancing for USD 95.5 million with Scotiabank Inverlat, S.A., due in January 2021. The new loan has a 36-month term from the date of its disbursement, which will take place in January 19, 2021; interest will be payable monthly at an annual fixed rate of 2.063%, structuring fee of 30 basis points and principal payment will be payable at the due date. On October 22, the Company signed a credit refinancing with BBVA Bancomer, S.A., due in February 2021, for USD 95.5 million. The new loan has a 36-month term from the date of its disbursement, which will take place on February 2, 2021; interest will be payable monthly at a fixed annual rate of 1.97%, an up-front fee of 60 basis points and the principal payment will be payable at the due date.
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. is a holding company. The Company holds concessions to operate, maintain and develop approximately 10 international airports in the Pacific and Central regions of Mexico, and an international airport in Jamaica. The Company's segments include Guadalajara, Tijuana, Puerto Vallarta, San Jose del Cabo, Montego Bay, Hermosillo, Bajio, Other Airports and Others Companies. The Other Companies segment includes Servicios a la Infraestructura Aeroportuaria del Pacifico, S.A. de C.V. (SIAP), a company that provides technical assistance and professional services; Corporativo de Servicios Aeroportuarios, S.A. de C.V. (CORSA), a company that provides operative services specialized in aeronautical industry; Puerta Cero Parking, S.A. de C.V. (PCP), a company that manages the parking lot operation; Fundacion Grupo Aeroportuario del Pacifico, A.C., and Desarrollo de Concesiones Aeroportuarias, S.L. (DCA), as well as the Company's own operation.