407 International to redeem C$208.33 million senior notes on June 24

By Wendy Van Sickle

Columbus, Ohio, May 22 – 407 International Inc. said it will redeem all of its outstanding C$208.33 million senior bonds, series 99-A5, due Dec. 1, 2021 (Cusip: 350863AH9) on June 24.

The redemption price will be determined in line with the note indenture.

BNY Trust Co. of Canada is the trustee.

The company said it plans to finance part of the redemption using proceeds from a new issue of $350 million 1.8% senior medium-term notes, series 20-A2, due May 22, 2025 and $400 million 2.59% senior medium-term notes, series 20-A3, due May 25, 2032.

407 International is a Woodbridge, Ont.-based toll highway operator owned by a consortium that includes Cintra Global Holding Ltd., Canada Pension Plan Investment Board and SNC-Lavalin Inc.

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