By Cristal Cody
Prospect News, Sept. 21 - Aeroports de Montreal (A1//DBRS: A) sold C$250 million of 30-year revenue bonds on Friday at par to yield 3.919%, or a spread of 150 basis points over the Government of Canada benchmark, an informed bond source said.
The series K bonds priced in the Canadian private placement market.
CIBC World Markets Inc. and RBC Capital Markets Corp. were the bookrunners. The co-managers were Desjardins Securities Inc., HSBC Capital (Canada) Inc., National Bank Financial Inc. and Casgrain & Co. Ltd.
The notes are redeemable at the Canada bond yield plus 37.5 bps.
Aeroports de Montreal operates the Montreal-Pierre Elliott Trudeau and the Montreal-Mirabel international airports.
| Issuer: | Aeroports de Montreal
|
| Amount: | C$250 million
|
| Maturity: | Sept. 26, 2042
|
| Securities: | Revenue bonds, series K
|
| Bookrunners: | CIBC World Markets Inc. and RBC Capital Markets Corp.
|
| Co-managers: | Desjardins Securities Inc., HSBC Capital (Canada) Inc., National Bank Financial Inc. and Casgrain & Co. Ltd.
|
| Coupon: | 3.919%
|
| Price: | Par
|
| Yield: | 3.919%
|
| Spread: | 150 bps over Government of Canada benchmark
|
| Call option: | At Canada bond yield plus 37.5 bps
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Ratings: | Moody's: A1
|
| DBRS: A
|
| Distribution: | Canada private placement
|
| Marketing: | Roadshow
|
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