Calgary Fuel Facilities completes $90M bond offering

On October 12, 2016, Calgary Fuel Facilities Corporation Ltd. (CFFC) completed a $90-million offering of 3.549 per cent amortizing Series A bonds due October 12, 2046.

The offering was completed by RBC Dominion Securities Inc. as lead arranger and sole placement agent.

The proceeds of the offering will be used by CFFC to complete construction of a glycol recovery and recycling facility and to develop a stormwater treatment facility at the Calgary International Airport as well as to refinance prior debt related to the development of fuelling infrastructure at the Airport. CFFC is operated on a not-for-profit basis for the benefit of a consortium of 18 airlines that serve the Airport.

Bennett Jones LLP advised CFFC with a team led by Ian Michael that included Helgi Maki, Jason Roth, Christopher Doucet and Michelle Seto.

Osler, Hoskin & Harcourt LLP represented RBC Dominion Securities Inc. with respect to the offering with a team led by Michael Innes that included Richard Borins and Raphael Amram.

Richard Sarabando of
Bull, Housser & Tupper LLP (now merged with Norton Rose Fulbright Canada LLP) represented Royal Bank of Canada with respect to refinanced bank credit facilities.