Air Canada Issues Unsecured Debentures

26th Jan 1999

Air Canada today announced that it has entered into an underwriting agreement for a public offering of $150 million of senior unsecured debentures in Canada. The debentures have a maturity of five years and a coupon of 6.75 per cent. Ratings for the issue are confirmed by CBRS as B+ (high) and by DBRS as BB.
The debentures are offered through a syndicate led by RBC Dominion Securities Inc. and including Lévesque Beaubien Geoffrion Inc., CIBC Wood Gundy Securities Inc., Merrill Lynch Canada Inc., Nesbitt Burns Inc., ScotiaMcLeod Inc., TD Securities Inc., Goldman Sachs Canada and Morgan Stanley Canada Limited.
Air Canada will use the net proceeds from the offering to fund aircraft acquisitions and for general corporate purposes.
Air Canada is Canada`s largest airline. The company is listed on the Montréal, Toronto, Winnipeg, Alberta and Vancouver Stock Exchanges.



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