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March 29, 2015 5:32 AM ET

Transportation Infrastructure

Company Overview of 407 International Inc.

Company Overview

407 International Inc., through its subsidiaries, owns, operates, and maintains highway 407 in Canada. The Highway 407 is an all-electronic open-access toll highway, which stretches 108 kilometers from Burlington to Pickering in the Greater Toronto Area and directly connects to 7 other large freeways. The company was founded in 1993 and is headquartered in Woodbridge, Canada.

6300 Steeles Avenue West

Woodbridge, ON L4H 1J1

Canada

Founded in 1993

425 Employees

Phone:

905-265-4070

Fax:

905-264-5315

Key Executives for 407 International Inc.

Chief Executive Officer, President, Director, Member of Audit Committee, Member of Executive Committee and Member of Corporate Governance & Compensation Committee
Chief Financial Officer and Secretary
Chief Information Officer
Vice President of Communications & Government Relations
Director of Communications
Compensation as of Fiscal Year 2014.

407 International Inc. Key Developments

407 International Inc. Issues $150 Million Aggregate Principal Amount of 3.30% Senior Notes

407 International Inc. announced that it has agreed to issue $150 million aggregate principal amount of 3.30% Senior Notes, Series 15-A1, due March 27, 2045, through its $1.5 billion Medium-Term Notes program and pursuant to a base shelf prospectus dated March 18, 2015, in an agency transaction with a syndicate led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. The syndicate also includes CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., Casgrain & Company Limited and TD Securities Inc. The distribution of the Senior Notes is scheduled to close on March 27, 2015. Aggregate net proceeds of approximately $141.1 million, after paying the costs of issuance and funding of the series reserve account, will be used to repay approximately $140 million aggregate principal amount owing by the company to certain Canadian chartered banks under certain of the Company's senior secured revolving credit facilities, and for general corporate purposes.

407 International Inc. Declares Dividend Payable on or About February 12, 2015

407 International Inc. board declared an eligible dividend of $0.242 per common share, payable on or about February 12, 2015 to shareholders of record on February 12, 2015.

407 International Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

407 International Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues were $228.1 million against $204.5 million a year ago. Income before tax was $83.3 million against $69.7 million a year ago. Net income was $61.3 million against $51.3 million a year ago. The company announced revenues of $887.6 million for the year ended December 31, 2014, compared to $801.2 million for the same period of 2013. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $735.7 million for 2014 as compared with $664.8 million for the same period of 2013. The company reported net income of $222.9 million for 2014, compared with net income of $248.7 million for the same period of 2013. Income before tax was $302.7 million against $337.5 million a year ago.

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