TORONTO, Oct. 2, 2013 /CNW/ - 407 International Inc. announced today that it has agreed to issue $200
million aggregate principal amount of 4.68% Senior Notes, Series 13-A1,
due October 7, 2053, through its $1.2 billion Medium-Term Notes program
and pursuant to a base shelf prospectus dated August 3, 2012, in an
agency transaction with a syndicate led by RBC Dominion Securities Inc.
and BMO Nesbitt Burns Inc. The syndicate also includes CIBC World
Markets Inc., National Bank Financial Inc., Casgrain & Company Limited,
Scotia Capital Inc. and TD Securities Inc. The distribution of the
Senior Notes is scheduled to close on October 7, 2013.
Aggregate net proceeds of approximately $186.5 million, after paying the
costs of issuance and funding of the series reserve account, will be
used (i) to repay $118.1 million aggregate principal amount owing by
the Company to certain Canadian chartered banks under certain of the
Company's senior secured revolving credit facilities, and (ii) for
general corporate purposes.
407 International Inc. is owned by Cintra Infraestructuras S.A., a
wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly
owned subsidiaries of Canada Pension Plan Investment Board (total 40%),
and by SNC-Lavalin (16.77%).
News releases are available at www.407etr.com.
SOURCE: 407 International Inc.
For further information:
Chief Financial Officer
Communications and Government Relations