Air Canada completes refinancing transaction exceeding C$7.1bn

Air Canada has closed its previously announced private offering of C$2.0bn of 4.625% senior secured notes due 2029 and US$1.2bn of 3.875% senior secured notes due 2026. Air Canada also announced the closing of its previously announced US$2.9bn new senior secured credit facility, comprised of a US$2.3bn new term loan B maturing in 2028, together with a new undrawn US$600 million revolving credit facility maturing in 2025. Air Canada received aggregate gross proceeds of approximately C$7.1bn from the sale of the notes and the senior secured credit facilities. Air Canada applied the proceeds to satisfy and discharge all of its