Published on 3/26/2024 in the Prospect News Canadian Bonds Daily and Prospect News High Yield Daily.
New Issue: AtkinsRealis (SNC Lavalin) prices C$400 million 5.7% series 8 debentures due 2029
Chicago, March 26 – AtkinsRealis (SNC Lavalin Group Inc.) priced C$400 million of 5.7% series 8 debentures due 2029 (BB+/DBRS: BBH) at par, according to a press release.
BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, and Scotiabank led the sale.
RBC Dominion Securities Inc., TD Securities Inc., BNP Paribas (Canada) Securities Inc., BofA Securities, SMBC Nikko and Desjardins Securities Inc. also worked in the syndicate.
Proceeds will be used to repay existing debt and for general corporate purposes.
The issuer is a Montreal-based engineering and construction services company.
Issuer: | AtkinsRealis
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Amount: | C$400 million
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Issue: | Series 8 debentures
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Maturity: | March 26, 2029
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Bookrunners: | BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, and Scotiabank (joint bookrunners), RBC Dominion Securities Inc., TD Securities Inc., BNP Paribas (Canada) Securities Inc., BofA Securities, SMBC Nikko and Desjardins Securities Inc.
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Coupon: | 5.7%
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Price: | Par
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Yield: | 5.7%
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Trade date: | March 26
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Settlement date: | March 28
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Ratings: | S&P: BB+
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| DBRS: BB (high)
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Distribution: | Canada
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