407 International to redeem C$300 million 4.99% notes on April 3

By Wendy Van Sickle

Columbus, Ohio, March 4 – 407 International Inc. said it will redeem all of its outstanding C$300 million 4.99% subordinated notes, series 10-A2, due June 16, 2020 on April 3.

The notes will be redeemed at 103.337 plus accrued interest of C$14.765 per C$1,000 principal amount, for a total redemption price of C$1,048.135 for each C$1,000 of notes.

BNY Trust Co. of Canada is the trustee.

The company said it plans to finance the redemption using proceeds from a new issue of 3.14% senior medium-term notes, series 19-A1, due March 6, 2030.

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.

© 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.