$200 Million Re-Opening of Medium Term Notes Issued by 407 International Inc.
TORONTO, June 5, 2013
407 International Inc. announced today that it has agreed to issue $200 million aggregate principal amount of a re-opening of 3.98% Senior Notes, Series 12-A2, due September 11, 2052, through its $1.2 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated August 3, 2012, in an agency transaction with a syndicate led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. The syndicate also includes CIBC World Markets Inc., National Bank Financial Inc., Casgrain & Company Limited, Scotia Capital Inc. and TD Securities Inc. The distribution of the Senior Notes is scheduled to close on June 10, 2013. The original issuance of the Senior Notes was completed in September 2012. An aggregate of $400 million of such Senior Notes will be outstanding after giving effect to this offering.
Aggregate net proceeds of approximately $185.8 million, after paying the costs of issuance and funding of the series reserve account, will be used (i) to repay $106.3 million aggregate principal amount owing by the Company to certain Canadian chartered banks under certain of the Company’s senior secured revolving credit facilities, and (ii) for general corporate purposes.
407 International Inc. is owned by Cintra Infraestructuras S.A., a wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 40%), and by SNC-Lavalin (16.77%).
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For more information, contact:
Chief Financial Officer
Communications and Government Relations
News releases are available at www.407etr.com.