NAV CANADA issues General Obligation Notes
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE
May 29, 2020 – Ottawa - NAV CANADA (the Company) announced
today that it has completed an issue of $850 million of general obligation
notes in two series on a private placement basis pursuant to exemptions from
the prospectus requirements of applicable Canadian securities laws (the
Offering). The Offering included (i) $550 million aggregate principal amount of
Series 2020-1 general obligation notes bearing interest at the rate of 2.924
per cent per annum and maturing on September 29, 2051 and (ii) $300 million
aggregate principal amount of Series 2020-2 general obligation notes bearing
interest at the rate of 2.063 per cent per annum and maturing on May 29, 2030.
The net proceeds of the Offering will be used for general
corporate purposes, including the repayment of borrowings under the Company's
bank credit facilities or other borrowings.
About NAV CANADA
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.
For further information, please contact:
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.