TORONTO, June 11 /CNW/ - 407 International Inc. announced today that it has agreed to issue $500 million aggregate principal amount of 3.88% Senior Notes, Series 10-A1, due June 16, 2015, and $300 million aggregate principal amount of 4.99% Senior Notes, Series 10-A2, due June 16, 2020 through its $2.0 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated November 18, 2009, as amended on June 8, 2010, in agency transactions with a syndicate led by BMO Nesbitt Burns Inc. The syndicate also includes RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc. and Casgrain & Company Limited. The distribution of the Series 10-A1 Senior Notes and the Series 10-A2 Senior Notes is scheduled to close on or about June 16, 2010.
Aggregate net proceeds of approximately $749.0 million, after paying the costs of issuance and funding of the Series 10-A1 and Series 10-A2 series reserve accounts, will be used to repay the $625 million aggregate principal amount of Senior Notes, Series 07-A2, due on October 4, 2010, on maturity or redemption, as applicable, and for general corporate purposes.
407 International Inc. is owned by a consortium comprised of Cintra Infraestructuras, Intoll and SNC-Lavalin Inc.
SOURCE 407 International Inc.
For further information: For further information: Investors: Kenneth A. Walker, Chief Financial Officer, Tel: 905-265-4070; Media: Steve Spencer, Director, Communications, Tel: 905-264-5232