NAV CANADA issues General Obligation Notes
DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES”/
(Ottawa, March 29, 2018) -
NAV CANADA (the Company) announced today that it has completed an issue of $275
million 30-year General Obligation Notes (the Notes). The Notes bear interest
at the rate of 3.293 per cent per annum.
The proceeds of the Notes will be
used to repay a portion of the Company's $350 million Series MTN 2013-1 General
Obligation Notes which mature on April 19, 2018. The remainder of the 2013-1
maturity will be repaid with available cash and by drawing on its syndicated
credit facility, if necessary.
NAV CANADA is a private, not-for-profit company, established in
1996, providing air traffic control, airport advisory services, weather
briefings and aeronautical information services for more than 18 million square
kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology
innovation. Air traffic management systems developed by NAV CANADA are used by
air navigation service providers in countries worldwide.
NAV CANADA is a partner of Aireon LLC, an international joint venture deploying
a space based Automatic Dependent Surveillance-Broadcast (ADS-B) system that
will expand air traffic surveillance to all regions of the globe.
information, please contact:
Government and Public Affairs
Manager, Media Relations
Media Information Line: 1-888-562-8226
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.