Winnipeg Airports Authority closes $125 million bond issue

On October 2, 2017, Winnipeg Airports Authority Inc. ("WAA") announced the closing of a $125 million privately-placed bond issue, with CIBC World Markets Inc. acting as sole agent. 

The new bond issuance allows WAA to strategically manage its interest rate exposure while paying down the debt still owing from the redevelopment of the airport. The bonds are designated Revenue Bond Series F and are at a coupon rate of 3.659 per cent for 30 years.

WAA is a non-share capital corporation, responsible for the management and operation of Winnipeg Richardson International Airport, the Iqaluit International Airport and other affiliated businesses.

Gowling WLG advised CIBC World Markets with a team that included Guy David and Radhika Vaidyanathan.