Grupo Aeroportuario Del Pacifico Announces The Substitution 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 December 5, 2012, GAP received the first disbursement of a line of credit for the Guadalajara, Los Cabos, Puerto Vallarta, Hermosillo and Guanajuato airports for a total of Ps. 287.8 million, established with BBVA BANCOMER, with the objective of reducing the Company’s long-term financing cost by lowering the interest rate differentials by 15 basis points.

The main objective of the above-mentioned line of credit is to prepay, without penalty, the debt contracted with Banco Nacional de México (BANAMEX) during 2011, thereby reducing the interest rate, exclusively for debt contracted during 2011, from a differential of 135 basis points above the 91-day TIIE to a differential of 120 basis points above the same TIIE rate.

The line of credit for each airport, as well as the disbursement dates (that correspond to the disbursement dates of the 2011 credit agreement) are as follows:

(amounts are in millions of pesos)

Line of Credit

        Disbursement Dates
                    12/5/2012         12/21/2012         1/9/2013
Guadalajara         112.6         12.8         26.8         73.0
Puerto Vallarta         70.3         29.9         20.6         19.8
Los Cabos         78.3         0.0         0.0         78.3
Hermosillo         12.6         3.3         3.7         5.5
Guanajuato         14.0         0.6         7.1         6.3
Total         287.8         46.7         58.3         182.8

The most important terms of the credit contracts are the following:

Interest Rate

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

0.15% payable upon each

disbursement and for the value of

each disbursement



Without actual guarantees other

than cross guarantees between the

airports obtaining funding,

mentioned above

It is worth mentioning that, at the close of 3Q12, the remaining balance for funding obtained during the 2007-2012 period from financial institutions for capital investments committed pursuant to the Master Development Programs for the Company’s airports that obtained funding was Ps. 2,064.93 million. The Company has made timely capital and interest payments on all of these loans as well as for all of the other committed obligations of the Company.

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