By Lisa Kerner
Charlotte, N.C., July 23 – Mullen Group Ltd. priced a proposed offering of C$400 million of senior notes with an average term of about 11 years and a weighted average fixed interest rate of about 3.95%.
The private placement is expected to close on or about Oct. 22, according to a company news release.
Proceeds will be used repay portions of Mullen’s existing private placement debt and for general corporate purposes.
Mullen Group, based in Okotoks, Alta., owns a network of independently operated businesses that provide transportation and related services to the oil and natural gas industries.
| Issuer: | Mullen Group Ltd.
|
| Issue: | Senior notes
|
| Amount: | C$400 million
|
| Average term: | 11 years
|
| Average coupon: | 3.95%
|
| Pricing date: | July 23
|
| Settlement date: | Oct. 22
|
| Distribution: | Private placement
|
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