407 International issues C$675 million of medium term notes
On August 15, 2022, 407 International Inc. ("407 International") announced that it agreed to issue C$350 million aggregate principal amount of 4.22% subordinated notes, Series 22-D1, due February 14, 2028 and C$325 million aggregate principal amount of 4.45% subordinated notes, Series 22-D2, due August 14, 2031 through its medium term notes program and pursuant to a base shelf prospectus dated March 31, 2022.
The notes were sold on an agency basis by a syndicate of agents led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc., and which also includes CIBC World Markets Inc., Scotia Capital Inc., Casgrain & Company Limited, National Bank Financial Inc. and TD Securities Inc.
The distribution of the notes closed on September 7, 2022.
Net proceeds from the Series 22-D1 and Series 22-D2 notes will be used to refinance existing subordinated debt and for general corporate purposes.
Further information can be found on Canada Newswire’s website.
407 International is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01%), also known as CPP Investments; Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%); and SNC-Lavalin (6.76%).