MONTREAL - CAE (TSX:CAE) has issued about US$350 million in unsecured senior notes in a private placement with 11 large institutional investors.
The Quebec-based builder of airplane simulators said Thursday that the notes are in several U.S. and Canadian-dollar denominated tranches.
They have both floating and fixed interest rates, the latter ranging between 3.6 and 4.2 per cent annually, with maturities ranging from seven to 15 years.
"We are very pleased to have entered into this notes offering, which locks in our interest costs at attractive rates for up to 15 years," chief financial officer Stephane Lefebvre said in a statement.
CAE employs about 8,000 people at more than 100 sites and training locations in some 30 countries.
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