$500 Million of Medium Term Notes Issued by 407 International Inc.
TORONTO, May 6, 2015
407 International Inc. (the "Company") announced today that it has agreed to issue $500 million aggregate principal amount of 3.83% Senior Notes, Series 15-A2, due May 11, 2046 through its $1.5 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated March 18, 2015, 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., Scotia Capital Inc., Casgrain & Company Limited and TD Securities Inc. The distribution of the Senior Notes is scheduled to close on May 11, 2015.
Aggregate net proceeds of approximately $468.5 million, after paying the costs of issuance and funding of the series reserve account, will be used (i) to partially repay $500 million aggregate principal amount of 3.88% Senior Notes, Series 10-A1, due June 16, 2015, and (ii) for general corporate purposes.
407 International Inc. is owned by Cintra Infraestructuras Internacional, S.L., 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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