/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 21, 2017 /CNW/ - 407 International Inc. (the "Company") announced today that it has agreed to issue $250 million aggregate principal amount of 3.43% Senior Notes, Series 17-A1, due June 1, 2033 through its $1.8 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated December 13, 2016, 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., Casgrain & Company Limited, National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. The distribution of the Senior Notes is scheduled to close on March 24, 2017.
Net proceeds will be used: (i) to fund a series reserve account; (ii) to repay principal amounts owing by the Company to certain Canadian chartered banks under certain of the Company's senior secured revolving credit facilities; and (iii) for general corporate purposes.
407 International Inc. is owned by Cintra Global Holding Limited, 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: Investors: Geoffrey Liang, Chief Financial Officer, Tel: 905-265-4070; Media: Kevin Sack, Vice President, Marketing, Communications and Government Relations, Tel: 905-264-5374