Published on 9/22/2023 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Alimentation Couche-Tard sells C$800 million 5.592% notes due 2030
By Marisa Wong
Los Angeles, Sept. 22 – Alimentation Couche-Tard Inc. priced C$800 million of 5.592% series 7 senior notes due Sept. 25, 2030 (Baa1/BBB+) in a private offering in all the provinces of Canada, according to a press release late Thursday.
The notes are being offered through an agency syndicate consisting of National Bank Financial Markets, Desjardins Securities Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. as joint bookrunners and including Goldman Sachs Canada Inc., HSBC Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., Rabo Securities Canada, Inc., SMBC Nikko Securities Canada, Ltd., Wells Fargo Securities Canada, Ltd., Barclays Capital Canada Inc., BMO Nesbitt Burns Inc., BNP Paribas (Canada) Securities Inc., Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and TD Securities Inc.
The notes will be guaranteed on a senior basis by some of Couche-Tard’s wholly owned subsidiaries who are guarantors under the company’s senior credit facilities.
The offering is expected to close on or about Sept. 25.
Couche-Tard intends to use the proceeds to repay debt and for general corporate purposes.
Couche-Tard is a convenience store operator with headquarters in Laval, Quebec.
| Issuer: | Alimentation Couche-Tard Inc.
|
| Amount: | C$800 million
|
| Issue: | Senior notes, series 7
|
| Maturity: | Sept. 25, 2030
|
| Underwriters: | National Bank Financial Markets, Desjardins Securities Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. (joint bookrunners); Goldman Sachs Canada Inc., HSBC Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., Rabo Securities Canada, Inc., SMBC Nikko Securities Canada, Ltd., Wells Fargo Securities Canada, Ltd., Barclays Capital Canada Inc., BMO Nesbitt Burns Inc., BNP Paribas (Canada) Securities Inc., Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and TD Securities Inc.
|
| Coupon: | 5.592%
|
| Announcement date: | Sept. 21
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | Canadian private offering
|
|
|
© 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.
