U.S., Sept. 24 -- Air Canada today announced that it recently completed two longer-term refinancing transactions for a total amount of approximately $1.52 billion, replacing short-term facilities.

The first transaction consists of a committed Secured Facility totaling $787.7 million to finance Air Canada's purchase of the first 18 Airbus A220 aircraft with a term of 12 years from delivery of each aircraft on a floating interest basis based on CDOR. This equates to an interest rate of approximately 2.39% using current CDOR rates. As aircraft are financed under this new Canadian dollar Secured Facility, the Bridge Financing of $787.7 million for the same 18 Airbus A220 aircraft put in place in April 2020 will be repaid concurrently. Any am...