By Tali Rackner
Norfolk, Va., Feb. 1 – Grupo Aeroportuario del Pacifico, SAB de CV announced the issue of an additional Ps. 1.1 billion of long-term bond certificates in a reopening on the Mexican market.
Specifically, the company issued Ps. 1.1 billion of bond certificates due Feb. 14, 2020 under the ticker symbol “GAP 15.” The bonds pay interest every 28 days at a variable rate of TIIE-28 plus 24 basis points, according to a press release.
The 11 million bond certificates were issued at a nominal value of Ps. 100 each. They were priced at Ps. 99.694371 due to accrued interest payable upon issuance and the 34 bps spread of the new issuance.
With this issuance, the company reaches a total of 22 million GAP 15 bond certificates for a total value of Ps. 2.2 billion.
Proceeds will be used to finance investments outlined in the company’s master development program for 2016.
“We are pleased with the result of this transaction and the market’s response, as the issuance was oversubscribed by over 2.2 times,” chief executive officer Fernando Bosque said in the release.
Based in Guadalajara, Grupo Aeroportuario del Pacifico operates 12 airports throughout Mexico’s Pacific region, including Guadalajara and Tijuana.
| Issuer: | Grupo Aeroportuario del Pacifico, SAB de CV
|
| Issue: | Peso-denominated notes
|
| Amount: | Ps. 1.1 billion
|
| Maturity: | Feb. 14, 2020
|
| Coupon: | 28-day TIIE plus 24 bps
|
| Price: | Ps. 99.694371
|
| Settlement date: | Jan. 29
|
| Original issue date: | Feb. 20, 2015
|
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