Nov 20, 2009
Winnipeg - November 20, 2009 - Winnipeg Airports Authority Inc. announced today the closing of a $300
million privately-placed bond issue for financing of the Airport Redevelopment Program.
The bond issuance provides capital financing for the airport redevelopment program, which includes a new
terminal building, parkade, and adjacent apron, taxiway and roadway infrastructure.
The bond issue was underwritten by a syndicate led by CIBC World Markets that also included RBC Capital
Markets and TD Securities. The bonds were rated A1 Stable by Moody’s and A Stable by Standard & Poor’s.
The private placement bond was sold to institutional investors across Canada with a minimum purchase of
$150,000. Two Series were issued. Series C is a 10 year bullet bond with semi-annual payments consisting
only of interest. The Series D bonds will be amortized over 31 years, repaid in semi-annual installments, with
principal repayment commencing in 2011.
Income to support the airport redevelopment program and the bond principal and interest will be obtained
predominantly through Airport Improvement Fees (AIF).
Winnipeg Airports Authority is a non-share capital corporation responsible for the management and operation
of Winnipeg James Armstrong Richardson International Airport and affiliate businesses. All surplus revenue
over expenses is reinvested by WAA back into the community, primarily through airport development projects.
WAA is self sufficient with taxpayers not directly involved in financing airport site redevelopment which is being
paid through Airport Improvement Fees (AIF).
Winnipeg Airports Authority serves our region by providing value to our customers and community. A source of
pride for our community, we strive to be a leader in its growth and development.
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For more information:
Christine Alongi
Director, Communications & Public Affairs
Winnipeg Airports Authority Inc
24 Hour Media Line: 204.992.2791