Halifax International Airport Authority Announces Successful Completion of Bondholder Consent Solicitation

Halifax International Airport Authority (“HIAA“) announced today that it has successfully obtained the requisite approval of holders (“Bondholders”) of all outstanding series of obligation bonds and pledged bonds (‘the “Bonds”) under the previously announced solicitation of consents (the “Consent Solicitation”) with respect to amendments (the “Amendments”) to the trust indenture governing the Bonds (the “Indenture”) and has entered into a fourth supplemental indenture dated December 31, 2020 (the “Fourth Supplemental Indenture”) to give effect to the Amendments.

The Amendments, which were described in the consent solicitation statement (the “Solicitation Statement”) dated December 11, 2020 distributed to the Bondholders, will temporarily relieve HIAA from its obligations to meet certain debt service coverage ratios and to satisfy such ratios and certain other requirements in incurring additional indebtedness or in proceeding to sell, lease or dispose of any material portion of its property and assets in respect of its 2020, 2021 and 2022 fiscal years (the “Amendment Period”).

As reported by Computershare Trust Company of Canada (the “Tabulation Agent”), Bondholders representing 99.52% of the aggregate principal amount of all outstanding Bonds, determined in accordance with the terms of the Indenture, validly delivered a consent form (the “Consent Form”) to the Tabulation Agent prior to 5 p.m. (Toronto time) on December 29, 2020 (the “Expiration Time”), confirming their consent to the extraordinary resolution to approve the Amendments (the “Extraordinary Resolution”).

During the Amendment Period, HIAA will disclose in its regular quarterly financial reporting to the trustee under the Indenture (on behalf of Bondholders) if available liquidity at the end of a quarter is below CDN $20 million.

In accordance with the Solicitation Statement, HIAA will pay a consent fee (“Consent Fee”) equal to $1.00 for each $1,000 outstanding principal amount of the Bonds in respect of which a valid Consent Form was received prior to the Expiration Time, through the Tabulation Agent, regardless of whether or not the Bondholder elected to consent to the Extraordinary Resolution.  Bondholders entitled to the Consent Fee should contact their broker or intermediary for further information.

RBC Dominion Securities Inc. acted as solicitation agent, Stewart McKelvey acted as legal advisor to HIAA, and Gowling WLG acted as legal advisor to the solicitation agent in connection with the Consent Solicitation.

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Halifax International Airport Authority Announces Commencement of Bondholder Consent Solicitation

Halifax International Airport Authority (“HIAA”) announced today that it has commenced the solicitation of written consent (the “Consent Solicitation”) from the holders of all outstanding series of obligation bonds and pledged bonds (collectively, the “Bonds”) to obtain approval of certain amendments (the “Proposed Amendments”) to the trust indenture governing the Bonds (the “Indenture”). 

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COVID-19 Update

Updated on March 31, 2020 

Halifax International Airport Authority (HIAA) continues to monitor developments related to the spread of the coronavirus disease, COVID-19. The health and safety of our passengers, visitors and employees is our top priority.

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When visiting Halifax Stanfield in 2020, it’s hard to believe the terminal building that exists today is nearly 60 years old. With bright interiors and large windows, modern washrooms and other passenger amenities, Halifax International Airport Authority (HIAA) has made strategic investments over the past two decades that put passenger needs, like accessibility, at the forefront.  

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Joyce Carter, President and CEO, Halifax International Airport Authority Elected Chair of the Canadian Airports Council

The Canadian Airports Council (CAC) today announced that Joyce Carter, President and CEO of Halifax International Airport Authority (HIAA), has been elected as its new Chair, the first woman to assume the role in CAC’s history. Ms. Carter, who has served as CAC’s Vice Chair since 2018, succeeds Sam Samaddar, Airport Director of the Kelowna International Airport.

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4 Clever Travel Hacks That’ll Make Your Life Easier This Holiday Season

The holiday season means more people will be travelling to see friends and family. Between mid-December and the first week of January, we’ll have more flights at Halifax Stanfield, which may require extra time to arrive, park, check-in and clear security. If you, like thousands of others have plans to take to the skies this holiday season, take a look at these handy tips:

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