$675 Million of Medium-Term Notes Issued by 407 International Inc.
/Not for distribution to U.S. News Wire Services or dissemination in the United States./
TORONTO, Aug. 15, 2022 /CNW/ - 407 International Inc. (the "Company") announced today that it has agreed to issue $350 million aggregate principal amount of 4.22% Subordinated Notes, Series 22-D1, due February 14, 2028 (the "Series 22-D1 Notes") and $325 million aggregate principal amount of 4.45% Subordinated Notes, Series 22-D2, due August 14, 2031 (the "Series 22-D2 Notes") through its Medium-Term Notes program and pursuant to a base shelf prospectus dated March 31, 2022, 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 September 7, 2022.
Net proceeds in respect of the Series 22-D1 Notes and the Series 22-D2 Notes will be used to refinance existing subordinated debt and for general corporate purposes.
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 SNC-Lavalin (6.76%).
News releases are available at 407etr.com
SOURCE 407 International Inc.
Investors: Geoffrey Liang, Chief Financial Officer, Tel: 905-265-4070; Media: Christina Basil, Director, Communications and Government Relations, Tel: 416-706-1861
Share this article