By Angela McDaniels
Tacoma, Wash., May 28 – Alimentation Couche-Tard Inc. priced C$700 million of 3.6% series 5 senior notes due 2025, according to a company news release.
The notes are expected to be rated Baa2 by Moody's Investors Service and BBB by Standard & Poor's.
HSBC Securities (Canada) Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc. and Wells Fargo Securities Canada, Ltd. are the bookrunners, with HSBC and Desjardins acting as co-lead agents.
Proceeds will be used to pay down a portion of amounts outstanding under the company’s senior credit facilities, which were drawn down to complete the acquisition of Pantry, Inc., among other things.
Alimentation Couche-Tard is a Quebec-based convenience store operator.
| Issuer: | Alimentation Couche-Tard Inc.
|
| Issue: | Series 5 senior notes
|
| Amount: | C$700 million
|
| Maturity: | 2025
|
| Coupon: | 3.6%
|
| Bookrunners: | HSBC Securities (Canada) Inc. and Desjardins Securities Inc. (co-leads), Laurentian Bank Securities Inc. and Wells Fargo Securities Canada, Ltd.
|
| Pricing date: | May 28
|
| Settlement date: | June 2
|
| Expected ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
