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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
Amount:C$400 million
Issue:Series 8 debentures
Maturity:March 26, 2029
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.
Coupon:5.7%
Price:Par
Yield:5.7%
Trade date:March 26
Settlement date:March 28
Ratings:S&P: BB+
DBRS: BB (high)
Distribution:Canada

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