NAV Canada starts four tender offers for $100 million of notes, bonds

Chicago, Nov. 16 – NAV Canada started four separate tender offers for up to $100 maximum purchase consideration relating to debt securities on Wednesday, according to a press release.

The company is offering to purchase from the following securities:

• C$200 million outstanding 0.555% series 2021-2 general obligation notes due Feb. 9, 2024 (Cusip: 628957AK8) with pricing to be based on the 2.25% Government of Canada bond due March 1, 2024 and a 32 basis points fixed spread;

• C$300 million outstanding 0.937% series 2021-1 G.O. notes due Feb. 9, 2026 (Cusip: 628957AJ1) with pricing to be based on the 0.25% Government of Canada bond due March 1, 2026 and a 67 bps fixed spread;

• C$125 million outstanding 7.56% revenue bonds series 97-2 due March 1, 2027 (Cusip: 628957AE2) with pricing to be based on the 2.25% Government of Canada bond due March 1, 20244 and a 94 bps fixed spread; and

• C$$250 million outstanding 7.4% revenue bonds series 96-3 due June 1, 2027 (Cusip: 628957AC6) with pricing to be based on the 1% Government of Canada bond due June 1, 2027 and a 98 bps fixed spread.

Accrued coupons will also be paid.

Tenders may be prorated.

The expiration time is 5 p.m. ET on Nov. 23.

Settlement is planned for Nov. 29.

RBC Dominion Securities Inc. is acting as the dealer manager for the offers (877 381-2099, 416 842-6311).

TSX Trust Co. is the tender agent (800 387-0825, 416 682-3860).

Ottawa-based NAV Canada is the country's civil air navigation services provider and coordinates the movement of aircraft in Canada.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.