Vancouver International Airport Authority Completes Private Placements

The Vancouver International Airport Authority recently completed two private placements of debt securities, the first being $150 million of Floating Rate Debentures which closed November 14 and the second being $200 million Series D Debentures due December 7, 2018. The proceeds of the Floating Rate Debentures were used to provide funding for capital expenditures and for general corporate purposes and the proceeds of the Series D Debentures were used to repay its Series A Debentures due December 7, 2006 and for general corporate purposes. Vancouver International Airport Authority is one of only five airport authorities worldwide that is rated “AA”. The dealers for both offerings were BMO Nesbitt Burns Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc.

The Vancouver International Airport Authority was represented by its in-house legal department comprised of Michael O'Brien, Jody Aldcorn and Sergio Custodio and by a team of McCarthy Tétrault LLP lawyers. The McCarthy Tétrault team was comprised of Byran Gibson, Q.C., Linda Brown, Michael Urbani, Salima Datoo and Jeremy Feist.

The dealers were represented by Carol Pennycook and Tarne Whiteley of Davies Ward Phillips and Vineberg LLP.