Parkland to use new note proceeds to redeem notes, pay down revolver

By Mary-Katherine Stinson

Lexington, Ky., Nov. 8 – Parkland Corp. announced it plans to use the proceeds from an offering of new senior notes to redeem all of the $300 million of its 6½% senior notes due Jan. 21, 2027 and to repay a portion of its revolving credit facility, according to a company release.

The redemption of the notes is conditional upon the successful completion of the planned new offering.

The amounts repaid on the revolver may be redrawn for general corporate purposes, including acquisitions and capital spending.

Parkland is a Calgary, Alta.-based convenience store operator.

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