TORONTO, June 5, 2013 /CNW/ - 407 International Inc. announced today
that it has agreed to issue $200 million aggregate principal amount of
a re-opening of 3.98% Senior Notes, Series 12-A2, due September 11,
2052, 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 BMO Nesbitt Burns Inc. and RBC
Dominion Securities 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 June 10, 2013. The original issuance of
the Senior Notes was completed in September 2012. An aggregate of $400
million of such Senior Notes will be outstanding after giving effect to
Aggregate net proceeds of approximately $185.8 million, after paying the
costs of issuance and funding of the series reserve account, will be
used (i) to repay $106.3 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