Air Canada prices upsized offering of unsecured notes

14 April 2014

Air Canada said that it has priced its previously announced private offering of senior unsecured notes.

The offering was upsized from the previously announced USD300m aggregate principal amount as Air Canada entered into a purchase agreement with a syndicate of initial purchasers relating to USD400m of 7.75 percent senior unsecured notes due 2021.

The notes will be sold at par and will provide for interest payable semi-annually. The notes will be senior unsecured obligations of Air Canada, and will be guaranteed on a senior unsecured basis by one of Air Canada´s subsidiaries. The offering is expected to close on April 15, 2014.

Air Canada said it intends to use the net proceeds from the sale of the notes for general corporate purposes.

Air Canada is Canada´s largest domestic and international airline serving more than 180 destinations on five continents.

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