$100 Million of Senior Floating Rate Notes Issued by 407 International
TORONTO, February 6, 2006
407 International Inc. announced today that it has agreed to issue $100 million principal amount of Senior Floating Rate Notes, Series 06-A1, due February 11, 2008, through its $1.8 billion Medium-Term Notes program in an agency deal with BMO Nesbitt Burns Inc. The distribution of the 06-A1 Floating Rate Notes (having its interest rate based on the 3-month BA rate plus 0.12%) is scheduled to close on or about February 9, 2006.
Net proceeds of $99.8 million, after paying the costs of issuance, will be used to finance general operating, capital and funding requirements.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations