Ottawa International Airport Undertakes Bond Financing

    OTTAWA, April 26 /CNW Telbec/ - Ottawa Macdonald-Cartier International
Airport Authority (OMCIAA) announced today that it has agreed to sell
$200 million of its Series D Airport Revenue Bonds to institutional investors
on a private placement basis through its agents CIBC World Markets and RBC
Capital Markets. The bonds will bear interest at 4.733% per annum and will
have a term of ten years. The bond issue is scheduled to close on May 2, 2007.
One hundred twenty million dollars of the proceeds are ear-marked for
refinancing of existing revenue bonds maturing on May 25, 2007, with the
remaining $80 million to be used to provide long-term financing for Phase II
of the Authority's Airport Expansion Program (AEP).
    According to Paul Benoit, President and Chief Executive Officer of the
Authority, "the AEP is designed to meet the needs of the National Capital
Region for a 20-year period. Phase II includes an extension of the terminal
building originally completed in 2003 as part of Phase I, an expansion of the
parking facilities and improved aircraft access to the terminal building."

    OMCIAA operates Ottawa International Airport without government subsidies
under a 60-year lease transfer agreement with Transport Canada. The OMCIAA's
mandate is to manage, operate and develop airport facilities and lands in
support of the economic growth of the National Capital Region. Its
state-of- the-art passenger terminal building opened for business on October
12, 2003, and is being expanded to accommodate growth in passenger volumes.

For further information:

For further information: Krista Kealey, Ottawa International Airport
Authority, (613) 248-2050,;

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