OTTAWA, Nov. 2 /CNW Telbec/ - NAV CANADA announced that it has repaid the
C$225 million series MT Medium Term Notes which matured today. In order to
effect this repayment, the Company borrowed $200 million under its syndicated
credit facility and met the remainder of the obligation with available cash.
Also today, the Company signed an amendment to its credit facility increasing
the aggregate availability under the facility from $683 million to
$883 million. After giving effect to today's borrowing, the Company will have
$651 million of undrawn availability under the facility.
NAV CANADA, the country's civil air navigation services provider, is a
private sector, non-share capital corporation financed through publicly-traded
debt. With operations coast to coast, NAV CANADA provides air traffic control,
flight information, weather briefings, aeronautical information services,
airport advisory services and electronic aids to navigation.
For further information:
For further information: John Morris, Director, Communications, (613)
563-7032; Ron Singer, Manager, Media Relations, (613) 563-7303