Grupo Aeroportuario Del Pacifico Informs Regarding Details Of Credit Agreements For Some Of Its Airports
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced that, in line with the Company’s debt strategy, effective August 1, 2012, GAP has established a line of credit for the Guadalajara, Los Cabos, Puerto Vallarta, Hermosillo and Guanajuato airports for a total of Ps. 242.7 million.
GAP selected BBVA BANCOMER as the institution for this line of credit.
This credit will be used to finance committed capital investments for 2012 pursuant to the Master Development Programs for each of the airports mentioned above. The line of credit will be used in 2012 by the airports as follows:
|(amounts in millions of pesos)|
The most important terms of the credit contracts are the following:
|Interest Rate||The 91-day Tasa de Interés Interbancaria de Equilibrio (TIIE) plus 120 basis points|
|Interest Payment Period||Quarterly|
|Amortization of principal and Interest payments||Twenty-eight (28) equal and consecutive quarterly payments, beginning three (3) months after each disbursement|
|Maturity of each disbursement||7 years after each disbursement|
|Structuring Commission||15 basis points payable upon each disbursement|
|Guarantees||Without actual guarantees other than cross guarantees between the airports mentioned above obtaining funding|
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