GRUPO GICSA, S.A.B. DE C.V.: GICSA Announces Committed Financing
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GRUPO GICSA, S.A.B. DE C.V.: GICSA Announces Committed Financing

Wednesday, November 6, 2019 9:10 PM
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MEXICO CITY / ACCESSWIRE / November 6, 2019 / GRUPO GICSA, S.A.B. de C.V. ("GICSA") [BMV:GICSA], a Mexican company specialized in the development, investment, commercialization and operation of shopping malls, corporate offices, and mixed-use properties, informs that, consistent with its continuous analysis of alternatives to improve its debt maturity and liquidity profile, it entered into a committed financing with a leading international financial institution for an approximate amount of $14,000 million pesos. Such financing would be backed by one or more independent vehicles, specially created for this financing, which would consolidate the flows and ownership of nine properties and related cashflows, which include Fórum Culiacán, Torre Esmeralda III, Masaryk 111, City Walk, Fórum Cuernavaca, Explanada Puebla, Paseo Querétaro, La Isla Mérida y Explanada Pachuca. The proposed refinancing would increase the debt maturity profile associated with the properties to approximately 15 years. The proceeds from the financing are expected to be used to refinance current operational debt associated with the nine projects that are part of the financing, general corporate purposes, and providing liquidity for GICSA, which, in turn, could increase flexibility in the implementation of value maximization strategies.

The financing commitment is subject to the completion of customary condition precedents. A shareholders meeting will approve the transaction and it will be called to submit the operation, along with additional information in this regard, which will be available on the websites of the Mexican Stock Exchange ( and GICSA (

Our Board of Directors has welcomed this refinancing, considering it to be an optimal alternative that allows us to modify the capital structure to continue to grow profitably and have greater liquidity and flexibility in the implementation of value maximization strategies.

This announcement should not be construed as an offer to buy or a solicitation of an offer to sell any securities. Any securities offered by GICSA will be made only in jurisdictions where and to the extent permitted by law and will not be or have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. No securities will be publicly offered in Mexico absent registration or an applicable exemption under applicable law.

About the Company

GICSA is a leading company in the development, investment, commercialization and operation of shopping malls, corporate offices and mixed used well known for their high-quality standards, which transform and create new development spaces, lifestyles and employment in Mexico, in accordance to its history and executed projects.

As of September 30, 2019, the Company owned 16 income-generating properties, consisting of ten shopping malls, five mixed use projects (which include four shopping malls, four corporate offices and one hotel), and one corporate office building, representing a total Gross Leasable Area (GLA) 911,683 square meters, and a Proportional GLA of 772,570 square meters. Since June 2015, GICSA is listed on the Mexican Stock Exchange under the ticker (BMV: GICSA B).

Forward-Looking Statements

This press release may contain forward-looking statements and involve risk and uncertainty. The words "estimates", "anticipates", "projects", "plans", "believes", "expects", "seeks" and similar expressions, are intended to identify forward-looking statements. Grupo GICSA warns readers that declarations and/or estimates mentioned in this document, or stated by Grupo GICSA's management team, are subject to a number of risks and uncertainties that could be in function of various factors that are out of Grupo GICSA's control. Future expectations reflect Grupo GICSA's judgement at the date of this document. Grupo GICSA reserves the right or obligation to update information contained in the report or derived from it. Past or present performance is not an indicator of future performance. Grupo GICSA warns that a significant number of factors may cause actual results to differ materially from estimates, objectives, expectations, and intentions expressed in this report. Neither the Company or any of its subsidiaries, affiliates, directors, executives, agents or employees may be held responsible before third parties (including shareholders) for any investment, decision, or action taken in relation to the information included in this document, or by any special damage or similar that may result. Grupo GICSA provides no assurance that the transactions described herein will be consummated or as to the ultimate terms of any such transactions.

Investor Relations Contact:

Avril Carenzzo 
+52 (55) 51 48 04 00 ext. 4609
[email protected]

Yinneth Lugo
+52 (55) 51 48 04 02
[email protected] 

+ (52) 55 5148 04 00
[email protected]


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