Skip to main content

YVR Issues $200 Million of Series F Debentures

Today, Vancouver Airport Authority announced that it closed a private placement of C$200 million aggregate principal amount of 3.857% Series F senior unsecured debentures due November 2045. 

“The low coupon rate is the result of the favorable interest rate environment in Canada and Vancouver Airport Authority’s reputation as a strong financial steward,” said Glenn McCoy, Senior Vice President, Strategy and Chief Financial Officer. “The 3.857% rate on the debentures represents the lowest issued rate by any Canadian airport with a 30-year term and I’m happy to report that Standard & Poor’s Rating Services confirmed that Vancouver Airport Authority maintains a AA credit rating; the second-highest airport rating in the world.”

The net proceeds from the Series F debenture issuance will be used to refinance Vancouver Airport Authority’s outstanding C$200 million aggregate principal amount of 5.020% Series E debentures due November 13, 2015. 

In addition to the Series F debentures, the Airport Authority has two other outstanding series of debentures, including C$150 million aggregate principal amount of Series B debentures due December 2026 and C$200 million aggregate principal amount of Series D debentures due December 2018. The private placement of the Series F debentures was led by CIBC World Markets as the sole placement agent.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. 

-YVR-

For further information:
YVR Media Relations: 604.880.9815; 
media_relations@yvr.ca
Twitter: @yvrairport

We use cookies to improve user experience, and by using this site, you consent to the use of cookies. Learn more and how to manage your preferences on our Privacy page.