Macquarie Infrastructure Group- (MIG) and Cintra-owned Canadian toll road 407 ETR has refinanced $400 million of senior bonds due this year by issuing $500 million of new senior notes.
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| Toll roads: able to |
Macquarie, Cintra refinance Canadian toll road
407 ETR issued $500m of new senior notes due 2012 and will retire $400m of senior bonds due this year. The issuance indicates toll road operators' ability to refinance their assets despite a difficult credit environment and softening traffic figures tied to the overall economic slowdown.
