By Wendy Van Sickle
Columbus, Ohio, March 29 – Grupo Aeroportuario del Pacifico, SAB de CV said it completed the issuance of Ps. 3 billion long-term bond certificates in Mexico.
The company sold 30 million certificados bursatiles at Ps. 100 each, according to a press release.
The five-year certificates bear interest at a variable rate of TIIE-28 plus 45 basis points, but the company said it signed a floating-for-fixed interest rate swap for the full term of the bond certificates, swapping the TIIE-referenced floating leg for an 8.03% fixed rate.
The issuer said the offering was oversubscribed by more than 2.9 times.
Proceeds will be used to finance investments for 2019 and 2020.
Including the latest issuance, the company has issued a total of Ps. 12 billion long-term bond certificates on the Mexican capital markets. The bond certificates were issued under the company’s five-year program that began in 2015.
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
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| Issue: | Certificados bursatiles
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| Amount: | Ps. 3 billion
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| Maturity: | March 22, 2024
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| Coupon: | TIIE-28 plus 45 bps, TIIE-28 fixed at 8.03% for full term
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| Price: | Par of Ps. 100
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| Announcement date: | March 29
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