La Caisse invests $53m. in the expansion projects of Quebec City Jean Lesage International Airport

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QUEBEC CITY – Caisse de depot et placement du Quebec announced a $53-million interest, in the form of a term loan, in the financing of Quebec 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 Aeroport de Quebec 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 Quebec 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 Quebec City.”

“We are pleased to be able to count on a major financial partner like Caisse de depot et placement de Quebec,” said Gaetan Gagne, President and Chief Executive Officer of Aeroport de Quebec inc. “With this investment, we will be in a position to pursue our expansion plan, for the benefit of our passengers.”

The Quebec 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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