407 International issues C$800 million of medium term notes

Torys acted as counsel to 407 International with a team that included Michael Zackheim and Brett Saulnier (corporate/securities).

On September 5, 2017, 407 International Inc. announced that it agreed to issue C$500 million aggregate principal amount of 3.65% senior secured notes, Series 17-A2, due September 8, 2044 and C$300 million aggregate principal amount of 2.47% subordinated secured notes, Series 17-D1, due September 8, 2022 through its C$1.8 billion medium term notes program and pursuant to a base shelf prospectus dated December 13, 2016.

The distribution of notes closed as scheduled on September 8, 2017.

The notes were issued in agency transactions with a syndicate led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. and which also included CIBC World Markets Inc., Casgrain & Company Limited, National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.

407 International Inc. is owned by Cintra Global Holding Limited, 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%).

Further information can be found on Canada Newswire's website.