April 11, 2014
Air Canada announces pricing of upsized offering of unsecured notes
Air Canada has priced its previously announced private offering of senior unsecured notes. The offering was upsized from the previously announced US$300m aggregate principal amount as Air Canada entered into a purchase agreement with a syndicate of initial purchasers relating to US$400m of 7.75% senior unsecured notes due 2021 (the “Notes”). 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 of the Notes is expected to close on April 15, 2014 , subject to customary closing conditions. Air Canada intends to use the net proceeds from the sale of the Notes for general corporate purposes.