NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES
March 29, 2018
TORONTO, CANADA – The Greater Toronto Airports Authority (“GTAA”) today announced that it has completed an offering of $500 million 3.26% Notes due June 1, 2037 (Secured), Series 2018-1 (the “Notes”) on a private placement basis (the “Offering”) pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The net proceeds of the Offering were used to partially fund the redemption of the $522 million 5.96% Medium Term Notes due November 20, 2019 (Secured), Series 2009-1 (the “2009 Notes”) of the GTAA. The remaining principal amount and interest outstanding on the 2009 Notes was repaid with short-term borrowings and operating cash flows of the GTAA. The co-lead agents for the Offering were RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. and the co-managers for the Offering were National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.
The GTAA is the operator of Toronto Pearson International Airport (“Toronto Pearson”). With 47.1 million passengers in 2017, Toronto Pearson is Canada's largest airport, and North America’s second largest international passenger airport as measured by the total number of annual international passengers. Toronto Pearson is a hub for the movement of people and goods across the country, the continent and around the globe. The focus of the GTAA continues to be on growing Toronto Pearson's status as an international gateway: enhancing the customer experience, safety, security, the success of our airline partners and the regional and national economies.
This news release does not constitute an offer to sell the Notes in the United States. The Notes have not been and will not be registered under U.S. securities laws and may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from such registration.
Contact: GTAA Media Office (416) 776-3709