GTAA completes successful issue of 10-year Medium Term Notes


    TORONTO, May 20 /CNW/ - The Greater Toronto Airports Authority (GTAA)
announces that it has completed an issue of $300 million, 10-year Medium Term
Notes. The Notes carry a fixed rate coupon of 5.96% and mature on November 20,
2019. The issue was oversubscribed with 63 institutional investors
participating. Proceeds of the offering will be used to fund future capital
expenditures and debt repayments and to fund required reserve funds.
    The successful offering was distributed by a syndicate led by BMO Capital
Markets and Scotia Capital Inc., and included CIBC World Markets Inc.,
National Bank Financial Inc, RBC Dominion Securities Inc. and TD Securities
    In February of 2009, the GTAA announced a four part economic response
plan, which included reductions in operating and capital expenses, a hiring
freeze, an incentive program to attract new airline traffic and a $5 increase
to the airport improvement fee. "I am gratified with the reaction we have seen
to our economic response plan," noted Lloyd McCoomb, President and CEO, "the
GTAA will continue to act prudently to position the GTAA for the future."

    The GTAA is the operator of Toronto Pearson International Airport, one of
the largest airports in North America in terms of passenger and air cargo
traffic. In 2008, 32.3 million passengers used Toronto Pearson.

    This news release shall not constitute an offer to sell the Medium Term
Notes in the United States. The Medium Term Notes have not been and will not
be registered under U.S. securities laws and may not be offered or sold in the
United States or to U.S. persons except pursuant to an exemption from such

For further information:

For further information: Media Contact: GTAA Media Office, (416)

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890