By William Gullotti
Buffalo, N.Y., April 2 – 407 International Inc. priced C$250 million of 4.89% 30-year series 24-A1 senior secured notes, according to a press release on Tuesday.
The transaction was led by RBC Dominion Securities Inc. and BMO Nesbitt Burns 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 to partially repay the company’s C$250 million of series 14-A1 senior secured notes at maturity on May 16 and to fund a series reserve account for the notes.
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$250 million
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| Issue: | Senior secured notes, series 24-A1
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| Maturity: | April 4, 2054
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| Bookrunners: | RBC Dominion Securities Inc. and BMO Nesbitt Burns 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: | 4.89%
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| Announcement date: | April 2
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| Settlement date: | April 4
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