Winnipeg Airports Authority completes $100 million bond financing

02 February 2021

On February 2, 2021, Winnipeg Airports Authority Inc. ("WAA") closed an issue of $100 million Revenue Bonds, Series G, via a private placement, with CIBC World Markets Inc. acting as sole agent. 

The 30-year bonds were issued at a rate of 3.04% per annum with interest payable in semi-annual instalments in arrears until maturity on February 3, 2051. Standard & Poor's Rating Services assigned an A (negative) rating to the bonds. Moody's assigned an A1 (stable) rating.

The net proceeds of the offering will be used for purposes of managing, operating and maintaining the Winnipeg James Armstrong Richardson International Airport, including payment of the costs of issuance of the Series G Bonds, financing capital expenditures and for general corporate purposes.

Gowling WLG advised CIBC World Markets in this financing with a team that included Guy David, Radhika Vaidyanathan and Lee Sykes.

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