GAP Arranges Financing for Capital Investments at Four Airports
 Comtex
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December 12, 2009
Mexican airport operator Grupo Aeroportuario del Pacifico S.A.B. de C.V. (GAP) has arranged an additional credit line for four airports, the company said this week.
The funding for the Guadalajara, Puerto Vallarta, Hermosillo and Guanajuato airports totals MXN651.4m and will be allocated to finance the remaining 2009 capital investment programmes and expected capital investments in 2010.
Banamex and HSBC will each provide MXN325.7m. The first tranche of the credit was exercised on Thursday and the second will be exercised before 28 February 2010. Both parts have a term of seven years beginning on the exercised date.
GAP operates 12 airports in Mexico's Pacific region, including the major cities of Guadalajara and Tijuana and the tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, as well as six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis.
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