$625 Million of Senior Medium Term Notes Issued by 407 International Inc.
TORONTO, October 1, 2007
407 International Inc. announced today that it has agreed to issue $625 million principal amount of 4.90% Senior Notes, Series 07-A2, due October 4, 2010, through its $1.8 billion Medium-Term Notes program in an agency deal with a syndicate led by BMO Nesbitt Burns Inc. The syndicate also includes RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc. and Casgrain & Company Limited. The distribution of Series 07-A2 Senior Notes is scheduled to close on or about October 4, 2007.
Net proceeds of approximately $583.1 million, after paying the costs of issuance and funding of the series reserve, will be used primarily to repay the $150 million principal amount of Senior Floating Rate Notes, Series 06-A2, maturing on November 23, 2007, and $430 million principal amount of Senior Bonds, Series 00-A3, maturing on December 17, 2007.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
- 30 -
For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations