$250 Million of Medium-Term Notes Issued by 407 International Inc.
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TORONTO, April 2, 2024 /CNW/ - 407 International Inc. (the "Company") announced today that it has agreed to issue $250 million aggregate principal amount of 4.89% Senior Secured Fixed Rate Notes, Series 24-A1, due April 4, 2054 (the "Notes") through its Medium-Term Notes program and pursuant to a base shelf prospectus dated March 28, 2024, in an agency transaction with a syndicate led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. The syndicate also includes CIBC World Markets Inc., Scotia Capital Inc., Casgrain & Company Limited, National Bank Financial Inc. and TD Securities Inc. The distribution of the Notes is scheduled to close on April 4, 2024.
Net proceeds in respect of the Notes will be used to repay, in part, the $250 million principal amount of Senior Secured Notes, Series 14-A1, at maturity on May 16, 2024, and to fund a series reserve account for the Notes.
The Company is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01%), also known as CPP Investments; Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%); and AtkinsRéalis Canada Inc., formerly SNC-Lavalin Inc. (6.76%).
News releases are available at 407etr.com/newsroom
SOURCE 407 International Inc.
Investors: Geoffrey Liang, Chief Financial Officer, Tel: 905-265-4070; Media: Christina Basil, Vice President, Communications and Government Relations, Tel: 416-706-1861
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