Airport expansion financing secured with ACFA
July 10, 2007 | General
$200-million expansion set for Edmonton International Airport
Edmonton — Edmonton Airports has finalized a new financing arrangement with Alberta Capital Finance Authority (ACFA), positioning Edmonton Airports to finance a $200-million capital program at Edmonton International Airport, required to meet the demands of robust passenger growth.
ACFA is a special act corporation established in 1956 under the authority of the Alberta Capital Finance Authority Act (Alberta). ACFA provides local authorities within the province with flexible funding for capital projects at the lowest possible cost.
Edmonton Airports continues to be rated very positively by three credit rating organizations. The most recent ratings are: Moody’s at A1 with a stable outlook (August 2006); Standard & Poor’s at A+ with a stable outlook (August 2006); and Dominion Bond Rating Service (DBRS) at A (high) with a stable outlook (November 2006). Edmonton Airports’ credit ratings are among the highest of all Canadian airports.
“We are pleased to partner with ACFA as we embark on a critical expansion of Edmonton International Airport,” says Reg Milley, Edmonton Airports President and CEO. “Being an ACFA shareholder allows Edmonton Airports to borrow money at favourable rates to finance airport capital projects that are so vital to our region’s transportation system and competitiveness.”
Driven by sustained passenger increases, including 15% year-to-date growth, the $200-million, five-year expansion of Edmonton International Airport includes the addition of 1,000 parkade stalls, a new terminal concourse, a larger, enhanced transborder (U.S.) area, aircraft parking space, and systems upgrades.
The $15 Airport Improvement Fee paid by enplaned passengers at Edmonton International Airport enables the expansion and improvement of airport facilities. Edmonton Airports has no plans to increase the Airport Improvement Fee.
Edmonton Airports’ vision is: To be the North’s preferred gateway to the World, and the World’s preferred gateway to the North.
Corporate Communications Manager
Phone: (780) 890-8454,
Cell: (780) 717-5117