407 International to redeem C$400 million 4.3% notes on June 22

By Wendy Van Sickle

Columbus, Ohio, May 22 – 407 International Inc. said it will redeem all of its outstanding C$400 million 4.3% senior notes, series 10-A3, due May 26, 2021 (Cusip: 35085ZBC9) on June 22.

The notes will be redeemed at C$1,034.920 plus accrued interest of C$3.181 per C$1,000 principal amount, for a total redemption price of C$1,038.101 for each C$1,000 of notes.

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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