Bonds Issued for Airport Expansion

Aéroports de Montréal, the not-for-profit airport authority responsible for the management, operation and development of Montréal-Dorval and Montréal-Mirabel International Airports, completed a second debt offering, via private placement, consisting of a $200 million issue of series D revenue bonds due on October 11, 2033, and a $150 million issue of series E revenue bonds also due on October 11, 2033. The deal closed on October 9, 2003. The underwriting syndicate was led by RBC Dominion Securities Inc., and included National Bank Financial, CIBC World Markets Inc., Desjardins Securities Inc. and Casgrain & Company Ltd.

Concurrently, Aéroports de Montréal increased its bank facility by $65 million with a syndicate of lenders led by Royal Bank of Canada, and including National Bank of Canada, Caisse centrale Desjardins and CIBC, increasing its funds available to $205 million.

Aéroports de Montréal was represented by in-house counsel Marie-Christine Blain; and by Fraser Milner Casgrain LLP in Montreal, with a team that included John Lemieux, Vitale Santoro, François Brais and Chistopher Main (corporate and securities) and Allan Mass and Sébastien Vilder (financial services).

RBC Capital Markets Inc., RBC Dominion Securities, Royal Bank of Canada and the banking and underwriting syndicates were represented by McCarthy Tétrault LLP in Montreal, with a team that included J. Michel Deschamps (financial services), Jean-René Gauthier and George Maziotis (securities) and Richard O’Doherty (financial services and securities).