Montreal Transit Agency Plans First 30-Year Bond: Canada Credit
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Montreal’s transit agency plans to borrow as much as C$300 million ($300 million) by year-end, the first step in a C$11.9 billion investment program to modernize its subway and bus network during the next decade.
Societe de Transport de Montreal, as the agency is known, may borrow as much as C$1.2 billion annually in the next several years, including its first sale of 30-year bonds, said Chief Financial Officer Luc Tremblay.