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ARTICLE · 04 JUNE 2020

NAV CANADA Completes Issue Of $850 Million Of General Obligation Notes

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On May 29, 2020, NAV CANADA announced that it had completed an issue of $850 million of general obligation notes in two series on a private placement basis.

CanadaTransport
Bryce Kraeker
Bryce Kraeker
Radhika Vaidyanathan
Radhika Vaidyanathan
Christopher Alam
Christopher Alam
E. Patrick Shea
E. Patrick Shea
Cyrus Reporter
Cyrus Reporter
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On May 29, 2020, NAV CANADA announced that it had completed an issue of $850 million of general obligation notes in two series on a private placement basis pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws (the Offering).

The Offering included (i) $550 million aggregate principal amount of Series 2020-1 general obligation notes bearing interest at the rate of 2.924 per cent per annum and maturing on September 29, 2051 and (ii) $300 million aggregate principal amount of Series 2020-2 general obligation notes bearing interest at the rate of 2.063 per cent per annum and maturing on May 29, 2030.

NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.

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