On February 9, 2021, NAV CANADA completed an issue of $500 million of general obligation notes in two series on a private placement basis pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws (the Offering).

The Offering included (i) $300 million aggregate principal amount of Series 2021-1 general obligation notes bearing interest at the rate of 0.937 per cent per annum and maturing on February 9, 2026 and (ii) $200 million aggregate principal amount of Series 2021-2 general obligation notes bearing interest at the rate of 0.555 per cent per annum and maturing on February 9, 2024.

NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.

Gowling WLG advised NAV CANADA with respect to the Offering with a team that included Bryce Kraeker and Radhika Vaidyanathan (corporate finance).