OTTAWA, April 26 /CNW Telbec/ - NAV CANADA has today agreed to sell a new issue of $250 million 3-year floating rate General Obligation Notes. The notes bear interest at the three month Bankers' Acceptance rate plus 40 basis points. Closing is scheduled to occur on April 29, 2010.
The proceeds of the notes will be applied to the refinancing of the Company's $250 million Series MTN 2007-1 floating rate General Obligation Notes that will mature on May 3, 2010.
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 to coast, NAV CANADA provides air traffic control, flight information, weather briefings, aeronautical information services, airport advisory services and electronic aids to navigation.
This press release contains certain forward-looking statements that are subject to important risks and uncertainties. Actual results may differ materially from the results indicated in these statements for a number of reasons. NAV CANADA disclaims any intention to update any forward-looking statements except as required by applicable securities legislation.
SOURCE NAV CANADA
For further information: For further information: John Morris, Director, Communications, (613) 563-7032; Ron Singer, Manager, Media Relations, (613) 563-7303; Media Information Line: 1-888-562-8226; www.navcanada.ca