Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC; BMV:GAP) (the “Company” or “GAP”) announces the signing of two loan agreements on September 24, 2015 for the refinancing of the bridge loan obtained in April 2015 for the acquisition of Desarrollo de Concesiones Aeroportuarias, S.L. (“DCA”).

The new loans amount to US$191.0 million, available for disbursement within 180 days; GAP expects to use the funds during 2016. The refinancing of the bridge loan will not increase the current leverage of the Company.

The following are the descriptions of the loan agreements:

 

I)         Loan from Scotiabank Inverlat, Sociedad Anónima, Institución de Banca Múltiple

 

Principal:

   US$95.5 million

Interest Rate:

 Libor plus 99 basis points

Interest Period:

 Monthly

Maturity:

 5 years from disbursement

Amortization:

 One payment at maturity

Disbursement Fee:

 0.20% to be paid upon disbursement
 
 

II)         Loan from BBVA Bancomer, Institución de Banca Múltiple

 

Principal:

 US$95.5 million

Interest Rate:

 Libor plus 105 basis points

Interest Period:

 Monthly

Maturity:

 5 years from disbursement

Amortization:

 One payment at maturity

Disbursement Fee:

 0.20% to be paid upon disbursement
 

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 of MJ Airports Limited, a company operating the Sangster International Airport in Montego Bay, Jamaica.

This press release may contain forward-looking statements. These statements 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 conditions, 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 01-800-563-0047. The web site is http://www.lineadedenuncia.org/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Follow us:

Twitter: http://twitter.com/aeropuertosGAP

Facebook: grupoaeroportuariodelpacifico