CPPIB-backed 407 International to issue $500 mln in notes
407 International Inc has agreed to issue $500 million in senior notes through the company's $1.8 billion medium-term notes program. A syndicate led by RBC Dominion Securities Inc and BMO Nesbitt Burns Inc will facilitate the deal. The proceeds will be used to fund a series reserve account, repay debt, and for other priorities. Woodbridge, Ontario's 407 International, the operator of toll highway Highway 407, is owned by Ferrovial SA, Canada Pension Plan Investment Board (CPPIB) and SNC-Lavalin. CPPIB struck a deal in 2010 to acquire its 40 percent interest.
8 May 2018•2 mins read
