Alimentation Couche-Tard markets two tranches of dollar notes

By Cristal Cody

Tupelo, Miss., Jan. 22 – Alimentation Couche-Tard Inc. plans to price two tranches of dollar-denominated senior notes (Baa2/BBB) in a Rule 144A and Regulation S offering on Wednesday, according to a market source and a press release.

A tranche of notes due Jan. 25, 2030 is initially talked to price in the Treasuries plus 155 basis points area.

Initial price talk on a tranche of bonds due Jan. 25, 2050 is in the 195 bps over Treasuries area.

HSBC Securities (USA) Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are the active bookrunners. Passive bookrunners are J.P. Morgan Securities LLC, MUFG and National Bank Financial Inc.

The notes will be guaranteed by certain wholly owned subsidiaries that are guarantors under Couche-Tard’s senior credit facilities.

Proceeds will be used to repay debt outstanding under the company’s senior credit facilities and for general corporate purposes.

The company held fixed income investor calls on Jan. 13 for the offering.

Alimentation Couche-Tard is a Quebec-based convenience store operator.

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