With the acquisition of MBJA the company assumed loans previously hired by MBJA. All the loans contracted with banking institutions and third parties are described below with the unpaid balance at each date.
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December 31 2015 |
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December 31 2016 |
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December 31 2017 |
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On September 14, 2007, MBJA signed a simple unsecured loan, with the International Finance Corporation (IFC) for up to USD$20 million. The loan bears interest at a variable rate of 6 month LIBOR plus 392 basis points, for a period of 12 years from this disposition and semi-annual instalments. As of December 31, 2017 the balance amounted to USD$7.5 million. |
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Ps. |
203,457 |
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Ps. |
167,884 |
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Ps. |
148,014 |
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MBJA signed a simple unsecured loan with its shareholder Vantage in June 2007 for USD$10,936,000, which is repayable at the same maturity date as the IFC´s loans but are subject to restrictions. Interest is accrued at an interest rate of 14% per annum. The loan does not have an expiration date and no amortization schedule. |
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188,185 |
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225,999 |
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215,843 |
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In February 2009, MBJA signed a simple unsecured loan with guarantees with its shareholder Vantage for USD$510,000 to finance expenses related to a construction project of MBJA. The interest rate was set at 8%. The loan does not have an expiration date and no amortization schedule. |
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8,775 |
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10,539 |
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10,065 |
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On December 12, 2012, MBJA signed a simple unsecured loan with IFC for USD$13 million. The loan bears interest at a variable rate of six month LIBOR plus 450 basis points, for a period of 5 years from each disposition. As of December 31, 2017 the balance amounted to USD$3,724,452. |
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219,383 |
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216,972 |
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73,504 |
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In 2014 MBJA signed two finance lease arrangements, one with SITA Information Networking Computing BV for USD$1,792,096, for equipment and the other with SITA Information Networking BV. USA for software support for USD$1,231,858. Both leases are for seven years with a fixed interest rate of 8% per annum. Monthly lease payment total USD$47,132. As of December 31, 2017 the balance amounted to USD$1,792,200. |
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44,223 |
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46,058 |
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35,370 |
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On January 19, 2016, GAP refinanced with Bank of Nova Scotia the simple unsecured loan contracted previously in the short term for amount of USD $95.5 million, with a five-year maturity. The loan bears interest at LIBOR 1M plus 99 basis points. |
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1,651,824 |
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1,973,412 |
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1,884,731 |
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On February 15, 2016, GAP refinanced with BBVA Bancomer the simple unsecured loan contracted previously in the short term for amount of USD $95.5 million, with a five-year maturity. The loan bears interest at LIBOR 1M plus 105 basis points. |
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1,634,618 |
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1,973,412 |
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1,884,731 |
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Total unpaid balance of bank loans and long-term debt |
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3,950,465 |
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4,614,276 |
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4,252,258 |
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Less - Current portion |
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(3,529,102 |
) |
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(84,758 |
) |
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(141,412 |
) |
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Long-term portion |
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Ps. |
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421,363 |
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Ps. |
4,529,518 |
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Ps. |
4,110,846 |
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