Brush up on bizav concerns, check out the Pilatus PC-24, and learn about sims for schools. Plus, we fly a Turbine Otter with a twist and examine the fighter procurement.
Aéroports de Montréal (ADM) announced that it has issued a new series of revenue bonds to raise total capital of $250 million. The net proceeds from the sale of the bonds will be used to fund ADM’s general corporate activities and its capital investment program.
Privately placed with institutional bond investors, the issue consists of $250 million of Series N bonds bearing interest at 3.36 per cent and maturing in April 2047.
RBC Capital Markets and CIBC World Markets Inc. acted as joint lead dealers and joint bookrunners and the syndicate also included National Bank Financial Inc., Desjardins Securities Inc., Casgrain & Company Limited and HSBC Securities (Canada) Inc.
Moody’s Investors Service and Dominion Bond Rating Service have both confirmed they are maintaining their respective existing ratings of A1 and A (high).
This marks ADM’s 10th bond issuance since 2002, raising $2.25 billion in total over that time to finance many expansions and modernization projects that have enabled ADM to practically triple the size of its terminal.
ADM is the local airport authority responsible for the management, operation and development of Montréal-Trudeau and Montréal-Mirabel international airports since 1992.