La Caisse invests in Quebec airport through a term loan

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La Caisse invests in Quebec airport through a term loan

La Caisse de dépôt et placement du Québec has announced a CAD$53 million (US$43 million) interest, in the form of a term loan, in the financing of Québec City Jean Lesage International Airport.

This transaction will enable the company to undertake significant expansion and maintenance projects, including expansion of its international terminal.

La Caisse's interest is part of a private financing of CAD$265 million, announced earlier by Aéroport de Québec inc. By improving its infrastructure, the organization expects to be able to increase its capacity and better serve its market. Ultimately, the expansion projects aim, among other things, to attract new air carriers and develop additional routes.

Marc Cormier, Executive Vice-President, Fixed Income at la Caisse, stated:

"Expansion of the international terminal will help increase world air traffic in the Québec City region, fostering the region's economic development. By taking part in this financing, la Caisse is furthering the long-term growth of a key organization in Québec City."

Gaëtan Gagné, President and Chief Executive Officer of Aéroport de Québec inc, commented:

"We are pleased to be able to count on a major financial partner like Caisse de dépôt et placement de Québec," said Gaëtan Gagné, President and Chief Executive Officer of Aéroport de Québec inc. "With this investment, we will be in a position to pursue our long-term expansion plan, for the benefit of our passengers."

The Québec City Jean Lesage International Airport handled more than 1.5 million passengers in 2014, positioning it as Canada's twelfth largest airport, where more than 10 carriers offer multiple flight connections to destinations in North America, Central America, the Caribbean, Mexico and Europe, including daily service to the major hubs in the northeastern United States.

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