GAP lines up peso return

GAP lines up peso return

Bonds Debt Capital Markets Corporate & Sovereign Strategy Mexico

Mexico's Grupo Aeroportuario del Pacífico (GAP) plans to sell up to MXN3bn ($155m) in local notes, the sixth issue under its five-year, MXN15bn bond program, according to a report from Moody's. The rating agency gave the upcoming notes an A3 on the global scale and an Aaa.mx on the local scale, pointing out that GAP reported a 10.4% increase in passenger traffic in 2018, above the industry-wide average of 8.7% in Mexico. "The strong traffic growth has supported very solid financial metrics," Moo

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