On March 20, 2018, Vancouver Airport Fuel Facilities Corp. (VAFFC) completed a $115-million offering of 3.653 per cent amortizing Series G bonds due March 20, 2051.
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 VAFFC principally to refinance prior debt related to the development of fueling infrastructure at the Vancouver International Airport and also in connection with its ongoing development of a marine terminal and fuel receiving facility on the South Arm of the Fraser River and a connecting pipeline to the Airport.
The proceeds of the offering will also be used for further on-airport fueling infrastructure developments.
VAFFC is operated on a not-for-profit basis for the benefit of a consortium of 31 airlines that serve the Airport.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 Raphaël Amram.