Groupe Aeroplan Completes $200M Notes Offering

On January 26, 2010, Groupe Aeroplan Inc. completed a public offering of $200,000,000 aggregate principal amount of 6.95 per cent Senior Secured Notes, Series 3 maturing on January 26, 2017. The offering was made pursuant to a supplement to an amended and restated short-form base shelf prospectus of Groupe Aeroplan Inc. dated March 26, 2009, which was filed with the securities regulatory authorities in all provinces and territories of Canada.

The proceeds of this offering were used to repay a portion of the amount outstanding under Groupe Aeroplan Inc.'s credit facility. The offering was underwritten by a syndicate of underwriters led by CIBC, RBC Dominion Securities Inc. and TD Securities Inc. that included BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc. and Merrill Lynch Canada Inc.

Groupe Aeroplan Inc. was represented in-house by Mark Hounsell, Senior Vice President, General Counsel and Corporate Secretary and assisted by Stikeman Elliott LLP with a team that included Jean Marc Huot, David Massé, Vanessa Coiteux, Marie-Ève Ferland and Amy Chao (corporate/securities); Craig Mitchell and Jill Lankin (banking); and Marie-Andrée Beaudry and Frank Mathieu (tax).

The underwriters were represented by Fasken Martineau DuMoulin LLP, with a team that included Peter Villani, Catherine Isabelle and Jean-François Séguin (corporate/securities); Marc Novello and Martin Racicot (banking) and Gilles Carli (tax).