NAV CANADA completes $250 million issuance of General Obligation Notes

On March 29, 2019, NAV CANADA announced that it had completed an issue of $250 million 31.5-year General Obligation Notes, bearing interest at the rate of 3.209 per cent per annum.

The proceeds of the Notes will be used to repay the Company's $250 million Series MTN 2009-1 General Obligation Notes which mature on April 17, 2019.

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.

Gowling WLG advised NAV CANADA with respect to this issuance with a team that included Bryce Kraeker and Radhika Vaidyanathan (corporate finance), Pierre Lissoir (Québec securities law and translation) and Carole Chouinard (tax).