GTAA completes successful issue of 10-year medium term notes

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S WIRE/

TORONTO, Sept. 21, 2012 /CNW/ - The Greater Toronto Airports Authority (GTAA) today announced that it has completed an issue of $400 million, 10-year Series 2012-1 Medium Term Notes. The notes carry a fixed 3.04 per cent coupon. The issue was oversubscribed with 58 institutional investors participating. Proceeds of the offering will be used to fund future debt repayments, including the Series 2002-2 Medium Term Notes which mature on December 13, 2012, future capital expenditures and to fund required reserve funds.  The successful offering was distributed by a syndicate co-led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and included National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.

The GTAA is the operator of Toronto Pearson International Airport, Canada's biggest airport and one of the largest airports in North America in terms of passenger and air cargo traffic.  In 2011, Toronto Pearson handled 33.4 million passengers and is ranked 4th largest in international passenger traffic in North America.  The focus of the GTAA continues to be on competitiveness, growing the airport's status as an international gateway, meeting the needs of our guests and ensuring the long-term success of the organization, our airline customers and the regional economy.

This news release shall not constitute an offer to sell the Medium Term Notes in the United States. The Medium Term Notes have not been and will not be registered under U.S. securities laws and may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from such registration.

SOURCE: Greater Toronto Airports Authority