Company Overview of 407 International Inc.
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, Canada that connects to seven other large freeways. The company was founded in 1993 and is headquartered in Woodbridge, Canada.
6300 Steeles Avenue West
Woodbridge, ON L4H 1J1
Founded in 1993
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
Interim Chief Financial Officer and Interim Corporate Secretary
Chief Information Officer
Vice President of Marketing, Communications and Government Relations
Director of Communications
Compensation as of Fiscal Year 2014.
407 International Inc. Key Developments
407 International Inc. Announces Executive Changes
Apr 23 15
407 International Inc. announced that the Board of Directors also accepted the planned departure of Mr. Louis-M. St-Maurice as Chief Financial Officer and Corporate Secretary and thanked Mr. St-Maurice for his excellent performance and service to the Company. Mr. St-Maurice joined the Company in 2010 and has overseen a period of financial growth and development. The Board of Directors has appointed Mr. Geoffrey Liang as Chief Financial Officer and Corporate Secretary on an interim basis. Mr. Liang has been with the Company since 1999, and most recently held the position of Managing Director - Finance and Treasurer, where he reported directly to Mr. St-Maurice.
407 International Inc. Announces Earnings Results for the First Quarter 2015; Declares Dividend, Payable on or About April 23, 2015
Apr 23 15
407 International Inc. announced earnings results for the first quarter 2015. For the quarter, the company reported revenues of $214.0 million compared to $185.3 million for the same period of 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) totalled $172.5 million compared with $150.3 million for same period of 2014. The company reported net income of $62.7 million compared with net income of $35.3 million for the same period of 2014.
The Board of Directors declared an eligible dividend of $0.242 per common share, payable on or about April 23, 2015 to shareholders of record on April 23, 2015.
407 International Inc. Issues $150 Million Aggregate Principal Amount of 3.30% Senior Notes
Mar 24 15
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.
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