By Lisa Kerner
Charlotte, N.C., Jan. 19 - Finning International Inc. completed a U.S. private placement of two series of senior unsecured notes totaling $200 million.
The sale was comprised of $100 million of 3.98% series A senior notes due Jan. 19, 2022 and $100 million of 4.08% series B senior notes due Jan. 19, 2024.
Proceeds will be used to repay debt, including outstanding commercial paper borrowings, and for general corporate purposes, according to a company news release.
Both series of notes will rank pari passu with Finning's existing senior unsecured obligations.
Finning is a Vancouver, B.C.-based dealer of heavy equipment.
| Issuer: | Finning International Inc.
|
| Issue: | Senior unsecured notes
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| Amount: | $200 million
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| Distribution: | Private placement
|
|
|
| Series A
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| Amount: | $100 million
|
| Coupon: | 3.98%
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| Maturity: | Jan. 19, 2022
|
|
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| Series B
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| Amount: | $100 million
|
| Coupon: | 4.08%
|
| Maturity: | Jan. 24, 2024
|
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