By Wendy Van Sickle
Columbus, Ohio, May 14 – 407 International Inc. priced C$750 million of senior notes in two parts on Thursday, according to a news release.
The company priced C$350 million of 1.8% senior notes, series 20-A2, due May 22, 2025.
407 also priced C$400 million of 2.59% senior notes, series 20-A3, due May 25, 2032.
BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. were the lead managers.
Proceeds will be used to fund a reserve account to repay either at maturity or through redemption the C$400 million of senior notes, series 10-A3, due May 26, 2021 and the C$208.3 million of real return senior bonds, series 99-A5, and for general corporate purposes.
407 International is a Woodbridge, Ont.-based toll highway operator owned by a consortium that includes Ferrovial SA, Canada Pension Plan Investment Board and SNC-Lavalin Inc.
| Issuer: | 407 International Inc.
|
| Amount: | C$750 million
|
| Bookrunners: | BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc.
|
| Co-managers: | CIBC World Markets Inc., Scotia Capital Inc., Casgrain & Co. Ltd., National Bank Financial Inc. and TD Securities Inc.
|
| Trade date: | May 14
|
| Settlement date: | May 22
|
| Distribution: | Canada shelf
|
|
|
| Five-year notes
|
| Amount: | C$350 million
|
| Description: | Series 20-A2 senior notes
|
| Maturity: | May 22, 2025
|
| Coupon: | 1.8%
|
|
|
| 12-year notes
|
| Amount: | C$400 million
|
| Description: | Series 20-A3 senior notes
|
| Maturity: | May 25, 2032
|
| Coupon: | 2.59%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
