Grupo Aeroportuario del PacÃfico, S.A.B. de C.V. (NYSE:PAC) (BMV:GAP) has announced that on December 28, 2017 its subsidiary MBJ Airports Limited (“MBJA”) signed loan agreements with The Bank of Nova Scotia Jamaica Limited and The Bank of Nova Scotia, which were duly formalized, the company said.
The loan proceeds will be used to finance the airport´s Capital Development Program for 2018 and 2019, as well for other investments.
The loan amount of USD 40.0 million is available for disbursement up to 24 months from the closing date, and will be utilized as per the progress of the capital works.
Grupo Aeroportuario del PacÃfico, 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”. In April 2015 GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake of MBJ Airports Limited, a company operating the Sangster International Airport in Montego Bay, Jamaica.