January 11, 2018 |
MBJ Airports, the Sangster International Airport concessionaire, has signed $40m of loans with Scotiabank, according to a statement from majority shareholder Grupo Aeroportuario del Pacifico (GAP).
The seven-year loans priced at 285bp over Libor. The Canadian bank provided $28.5m, while its Jamaican subsidiary lent $11.5m. The loans come with a two-year bridge period and include a 0.35% disbursement fee, due at closing.
Proceeds will finance the airport's 2018 and 2019 capital development progra
Scotiabank and its local subsidiary lend $40m toward Sangster's upcoming capital development program