AutoCanada offers to purchase C$150 million 5 5/8% notes due 2021

By Marisa Wong

Los Angeles, Jan. 28 – AutoCanada Inc. said it has begun a cash tender offer to purchase all of its outstanding C$150 million 5 5/8% senior notes due May 25, 2021 (Cusip: 05277BAA8).

The offer expires at 5 p.m. ET on Feb. 10.

The company is offering a consideration of C$1,016.50 per C$1,000 principal amount plus accrued interest to but excluding the payment date.

The tender offer is conditioned on the company completing an offering of new five-year senior notes and an amendment to its credit facility.

The company said it intends to deliver a notice of redemption to holders of the outstanding 2021 notes if any remain outstanding after the tender offer.

Scotia Capital Inc. (416 863-7438, attn.: Patrick Dabiet) is the dealer manager for the tender offer. Laurel Hill Advisory Group (877 452-7184, 416 304-0211 or assistance@laurelhill.com) is the information agent.

AutoCanada is an automobile dealership group based in Edmonton, Alta.

© 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.