GTAA completes issue of 5-year medium term notes

/"NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S WIRE SERVICES"/

TORONTO, Feb. 16, 2016 /CNW/ -The Greater Toronto Airports Authority (GTAA) today announced that it has completed an issue of $300 million 5-year Series 2016-1 Medium Term Notes (the Medium Term Notes). The Medium Term Notes carry a fixed 1.51 per cent coupon. The issue was oversubscribed with 40 institutional investors participating. Proceeds of the offering will be used to partially fund the $350 million Series 2005-3 Medium Term Notes maturing on February 16, 2016.  The remaining balance will be funded through its revolving operating facility and operating cash flows.  The successful offering was distributed by a syndicate co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc., and included CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.

The GTAA is the operator of Toronto Pearson International Airport (Toronto Pearson).  With 41 million passengers in 2015, Toronto Pearson is Canada's largest airport, and North America's second largest international passenger airport as measured by the total number of annual international passengers.  Toronto Pearson is a hub for the movement of people and goods across the country, the continent and around the globe. The focus of the GTAA continues to be on growing Toronto Pearson's status as an international gateway:  enhancing the customer experience, safety, security, the success of our airline partners and the regional economy.

This news release does 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 registration.

SOURCE Greater Toronto Airports Authority

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