Parkland conditionally calls all 5¾% notes, some 5 5/8% notes

By Taylor Fox

New York, March 10 – Parkland Corp. plans to redeem all of its outstanding C$300 million 5¾% senior notes due Sept. 16, 2024 and C$300 million of its outstanding C$500 million 5 5/8% senior notes due May 9, 2025, according to a news release.

The 2024 notes will be redeemed at 102.875 on April 9, and the 2025 notes will be redeemed at 102.813 on May 9.

Parkland will also pay interest on the notes.

The notes will be redeemed using proceeds from the company’s offering of C$600 million 4 3/8% notes senior notes due March 2029, together with borrowings under its credit facilities. The redemptions are conditioned on completion of the new notes offering.

The issuer is a Calgary, Alta., marketer and supplier of fuel and petroleum products.

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