February 13, 2020 18:39 ET
| Source: Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
GUADALAJARA, Mexico, Feb. 13, 2020 (GLOBE NEWSWIRE) — Grupo Aeroportuario del Pacifico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announced today that it successfully completed the issuance of 30 million long-term bond certificates in Mexico (Certificados Bursatiles) at a nominal value of Ps. 100 each (one hundred pesos 00/100), for a total value of Ps. 3.0 billion.
The bond certificates were issued in accordance with the following terms:
- 30 million bond certificates were issued under the ticker symbol “GAP20”, at a nominal value of Ps. 100 (one hundred pesos 00/100) each, for a total value of Ps. 3.0 billion (three billion pesos 00/100);
- Interest will be payable every 28 days at a variable rate of TIIE-28 plus 17 basis points; and
- Principal will be due at maturity on February 6, 2025.
Proceeds from the issuance will be allocated to:
- Payment of the bond certificates under the ticker symbol “GAP15” issued on February 20, 2015 with maturity on February 14, 2020 for an amount of Ps. 2.2 billion.
- Initiate the investments set forth in the Company’s Master Development Plan for 2020 for an amount of Ps. 800 million.
This issuance was oversubscribed by over 5 times.
With this issuance, the Company reaches a total of Ps. 15.0 billion long-term bond certificates issued in the Mexican capital markets and concludes the 5-year program authorized by the Mexican Banking and Securities Commission (Comision Nacional Bancaria y de Valores).
Grupo Aeroportuario del Pacifico, 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. 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.
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