Aéroports de Montréal Completes Financing

On April 15, 2002, Aéroports de Montréal, the not-for-profit airport authority responsible for the management, operation and development of Montréal-Dorval and Montréal-Mirabel Airports, successfully completed a first-time debt offering, via private placement, consisting of an issue of $150 million revenue bonds due April 16, 2012, and an issue of $300 million revenue bonds due April 16, 2032. The underwriting syndicate for this issue was led by RBC Dominion Securities Inc., and included National Bank Financial Inc., CIBC World Markets Inc., Desjardins Securities Inc. and Merrill Lynch Canada Inc.

At the same time, Aéroports de Montréal entered a $140 million bank facility with a syndicate of lenders led by Royal Bank of Canada and comprised of National Bank of Canada, La caisse centrale Desjardins and Canadian Imperial Bank of Commerce.

Acting for Aéroports de Montréal were chief in-house counsel Marie-Christine Blain and Fraser Milner Casgrain LLP in Montreal, with a team comprised of John Lemieux, Vitale Santoro and François Brais (corporate and securities) and Allan Mass and Barbara Farina (financial services).

J. Michel Deschamps (financial services), Jean-René Gauthier (securities) and Richard O’Doherty (financial services and securities) of McCarthy Tétrault LLP in Montreal acted for RBC Dominion Securities, Royal Bank of Canada and the banking and underwriting syndicates.