Wings Magazine

News
NAV CANADA announces $225 million repayment of medium term notes

Nov. 2, 2007, Ottawa, Ont. – NAV CANADA announced that it has repaid the C$225 million series MT 1-5 Medium Term Notes which matured today. 


November 2, 2007
By Carey Fredericks

Nov. 2, 2007, Ottawa, Ont. – NAV CANADA announced that it has repaid the C$225 million series MT 1-5 Medium Term Notes which matured today. 

In order to effect this repayment, the Company borrowed $200 million under its syndicated credit facility and met the remainder of the obligation with available cash. 

Also today, the Company signed an amendment to its credit facility increasing the aggregate availability under the facility from $683 million to $883 million.  After giving effect to today’s borrowing, the Company will have $651 million of undrawn availability under the facility. 

Advertisment