Woodbridge, ON (pcJ News Briefs) – 407 International Inc. has agreed to issue $250 million aggregate principal amount of 3.43% Senior Notes, Series 17-A1, due June 1, 2033 through its $1.8 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated December 13, 2016.
The offering is scheduled to close on March 24, 2017.
The offering is being made through a syndicate led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. The syndicate also includes CIBC World Markets Inc., Casgrain & Company Limited, National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.
407 intends to use net proceeds to fund a series reserve account; to repay principal amounts owing by the company to certain Canadian chartered banks under certain of senior secured revolving credit facilities; and for general corporate purposes.
407 International Inc. is owned by Cintra Global Holding Limited, a wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 40%), and by SNC-Lavalin (16.77%).
photo credit: 407 International Inc.