$350 Million of Medium-Term Notes Issued by 407 International Inc.
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TORONTO, November 1, 2016
407 International Inc. (the "Company") announced today that it has agreed to issue $350 million aggregate principal amount of 2.43% Senior Notes, Series 16-A2, due May 4, 2027 through its $1.5 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated March 18, 2015, in an agency transaction with a syndicate led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. The syndicate also includes CIBC World Markets Inc., Casgrain & Company Limited, National Bank Financial Inc., Scotia Capital Inc., and TD Securities Inc. The distribution of the Senior Notes is scheduled to close on November 4, 2016.
Net proceeds will be used (i) to fund a series reserve account, (ii) to repay upon maturity approximately $289 million in respect of the Company’s 5.328% Real Return Senior Bonds, Series 99-A4, due December 1, 2016, and (iii) 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%).
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