GTAA Completes Issue of Notes Due May 3, 2028

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

TORONTO, Nov. 3, 2020 /CNW/ - The Greater Toronto Airports Authority ("GTAA") today announced that it has completed an offering of $500 million 1.54% Notes due May 3, 2028 (Secured), Series 2020-1 (the "Notes") on a private placement basis (the "Offering") pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The net proceeds of the Offering will be used to partially repay certain short-term indebtedness of the GTAA. The co-lead agents for the Offering were CIBC World Markets Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc., and the co-managers for the Offering were National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.

The GTAA is the operator of Toronto – Lester B. Pearson International Airport ("Toronto Pearson"). Toronto Pearson is Canada's largest airport based on 2019 full-year total passenger traffic. The focus of the GTAA continues to be on growing Toronto Pearson's status as an international hub, enhancing the customer experience, safety and security, contributing to the success of our airline partners and facilitating the growth of regional and national economies, all while ensuring a strong focus on passenger and employee health during the COVID-19 pandemic.

This news release does not constitute an offer to sell the Notes in the United States. The 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