SGTP Highway Bypass to price C$628.6 million of bonds in two tranches

By Cristal Cody

Tupelo, Miss., July 28 – SGTP Highway Bypass Ltd. Partnership is expected to price C$628.6 million of senior secured bonds (A3//) in two tranches in a private placement offering on Wednesday, according to a market source.

The deal includes C$488.2 million of amortizing senior secured bonds due January 2045 and C$140.4 million of bullet senior secured bonds due July 2049.

National Bank Financial Inc. and RBC Dominion Securities Inc. are the underwriters. Co-managers include CIBC World Markets Inc. and Scotia Capital Inc.

Proceeds from the deal will be used to fund a portion of obligations under a long-term project agreement with the Saskatchewan government to design, build, finance, operate and maintain a new bypass and related infrastructure.

SGTP Highway Bypass consists of Saskatchewan, Western Canadian and global companies.

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