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)
Guadalajara     89.46
Los Cabos     113.40
Puerto Vallarta     17.31
Hermosillo     6.56
Guanajuato     16.03
TOTAL     242.75

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


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


Without actual guarantees other than cross guarantees between the airports mentioned above obtaining funding

It is worth mentioning that, at the close of 2Q12, the remaining balance for funding obtained from financial institutions for capital investments committed pursuant to the Master Development Programs for our airports that obtained funding during the 2007-2012 period was Ps. 1,954.44 million. The Company has made timely capital and interest payments on all of these loans as well as for the Company’s other committed obligations.

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”.

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 GAP’s Audit Committee will be notified of all complaints for immediate investigation.

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