By Wendy Van Sickle
Columbus, Ohio, July 27 – 407 International Inc. priced C$500 million of 4.86% 30-year senior secured notes, series 23-A1, (S&P: A) on Thursday, according to a press release.
The transaction was led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc.
The syndicate includes CIBC World Markets Inc., Scotia Capital Inc., Casgrain & Co. Ltd., National Bank Financial Inc. and TD Securities Inc.
Proceeds will be used 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.
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| Amount: | C$500 million
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| Issue: | Senior secured notes, series 23-A1
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| Maturity: | July 31, 2053
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| Bookrunners: | BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. (leads), CIBC World Markets Inc., Scotia Capital Inc., Casgrain & Co. Ltd., National Bank Financial Inc. and TD Securities Inc.
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| Coupon: | 4.86%
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| Announcement date: | July 27
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| Settlement date: | July 31
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| Rating: | S&P: A
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