The Caisse de dépôt et placement du Québec has made an investment totaling $53 million in the Québec City Jean Lesage International Airport. The investment, which is a term loan, will be used to help finance expansion and maintenance projects at the airport, including development of its international terminal. The Caisse’s investment is part of a private transaction that will provide the airport with about $265 million in funding.
La Caisse invests $53 million in the expansion projects of Québec City Jean Lesage International Airport
QUÉBEC CITY, June 11, 2015 /CNW Telbec/ – Caisse de dépôt et placement du Québec announced today a $53-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 approximately $265 million, announced earlier today 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.
“Expansion of the international terminal will help increase world air traffic in the Québec City region, fostering the region’s economic development,” said Marc Cormier, Executive Vice-President, Fixed Income at la Caisse. “By taking part in this financing, la Caisse is furthering the long-term growth of a key organization in Québec City.”
“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 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.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2014, it held $225.9 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure and real estate. For more information: www.cdpq.com.
Photo courtesy of Québec City Tourism