Aecon achieves commercial close on Bermuda Airport redevelopment project

Aecon stated (16-Mar-2017) it achieved financial and commercial close on the Bermuda LF Wade International Airport redevelopment project. The project will be implemented under an agreement between Bermuda's Government and Canadian Commercial Cooperation (CCC), and delivered under a PPP model. Aecon will be responsible for the project's development, financing and long-term operation and maintenance, while CCC will deliver the airport terminal at a fixed price, subcontracting the work to Aecon through a USD274 million contract. Aecon arranged financing for the project, including a USD285 million fixed coupon US private placement. [more - original PR]