By Wendy Van Sickle
Columbus, Ohio, Jan. 20 – NAV Canada sold C$500 million of general obligation notes in two series on a private placement, according to a news release.
The notes include C$300 million of series 2021-1 0.937% notes due Feb. 9, 2026 and C$200 million of series 2021-2 0.555% general obligation notes due Feb. 9, 2024.
Half of the proceeds will be used to repay the company’s C$250 million of series MTN 2011-1 notes maturing Feb. 18, 2021, and the remainder will be used for general corporate purposes, including repaying other debt.
Ottawa-based NAV Canada is the country's civil air navigation services provider and coordinates the movement of aircraft in Canada.
| Issuer: | NAV Canada
|
| Amount: | C$500 million
|
| Description: | General obligation notes
|
| Pricing date: | Jan. 20
|
| Settlement date: | Feb. 9
|
|
|
| Series 2021-1
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| Amount: | C$300 million
|
| Maturity: | Feb. 9, 2026
|
| Coupon: | 0.937%
|
|
|
| Series 2021-2
|
| Amount: | C$200 million
|
| Maturity: | Feb. 9, 2024
|
| Coupon: | 0.555%
|
|
|
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