By Cristal Cody
Tupelo, Miss., April 2 – Dollarama Inc. priced a C$125 million reopening of its floating-rate senior notes due May 16, 2017 in a Canadian private placement offering on Thursday, according to the company.
The notes (DBRS: BBB) priced to yield the Canadian Dealer Offered Rate plus 70 basis points.
The notes will pay a coupon of CDOR plus 54 bps, the same rate as the original notes.
RBC Dominion Securities Inc. and CIBC World Markets Inc. were the lead managers.
Dollarama originally sold C$150 million of the notes on May 13, 2014 at par to yield CDOR plus 54 bps. The total outstanding is C$275 million.
The Montreal-based dollar store operator plans to use the proceeds to repay debt outstanding under its revolving credit facility and for general corporate purposes.
| Issuer: | Dollarama Inc.
|
| Amount: | C$125 million reopening
|
| Maturity: | May 16, 2017
|
| Securities: | Floating-rate senior notes
|
| Bookrunners: | RBC Dominion Securities Inc., CIBC World Markets Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc.
|
| Coupon: | CDOR plus 54 bps
|
| Yield: | CDOR plus 70 bps
|
| Pricing date: | April 2
|
| Settlement date: | April 8
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada private placement
|
| Total outstanding: | C$275 million, including C$150 million priced May 13, 2014 at par
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