Edmonton Regional Airports Authority completes $200 million bond financing

20 May 2021

On May 20, 2021, Edmonton Regional Airports Authority ("ERAA") closed an issue of $200 million of Amortizing Revenue Bonds, Series D via private placement. 

The bonds were issued at a fixed annual interest rate of 3.715 per cent payable semi-annually and are due on May 20, 2051. Standard & Poor's Rating Services assigned an A (negative) rating to the bonds. Moody's assigned an A2 (stable) rating.

Net proceeds from the bond offering will be used to pay down amounts outstanding under ERAA's credit facility, fund the required deposit into the Debt Service Reserve Fund, finance select capital expenditures and for general corporate and liquidity purposes.

RBC Capital Markets acted as ERAA's exclusive agent for the bond issue.

Gowling WLG advised RBC Capital Markets in this financing with a team that included Bryce Kraeker, Radhika Vaidyanathan and Lee Sykes.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.