AtkinsRéalis announces private offering of $400 million of unsecured debentures
Mar 27, 2024
MONTREAL, March 26, 2024 /CNW/ - AtkinsRéalis [SNC-Lavalin Group Inc.] (TSX:ATRL), a fully integrated professional services and project management company with offices around the world, announced today that it has priced an offering of $400 million aggregate principal amount of 5.70% Series 8 unsecured debentures due March 26, 2029 (the Series 8 Debentures). The Series 8 Debentures are being offered through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, and Scotiabank as joint bookrunners, and which also includes RBC Dominion Securities Inc., TD Securities Inc., BNP Paribas (Canada) Securities Inc., BofA Securities, SMBC Nikko and Desjardins Securities Inc. The Series 8 Debentures will be issued at par and closing is expected to occur on or about March 28, 2024, subject to customary closing conditions. AtkinsRéalis intends to use the net proceeds of the offering to repay existing indebtedness and for general corporate purposes. The Series 8 Debentures will bear interest at a fixed annual rate of 5.70%, payable in equal semi-annual instalments, in arrears, on March 26 and September 26 of each year until maturity, commencing on September 26, 2024. The Series 8 Debentures will be direct unsecured obligations of AtkinsRéalis, will rank pari passu with all other unsecured and unsubordinated indebtedness of AtkinsRéalis (including all of its other existing debentures as well as indebtedness under its existing main credit agreement) and will be guaranteed by the same subsidiaries that guarantee AtkinsRéalis' obligations under its existing main credit agreement and its other outstanding debentures. On March 18, 2024, DBRS Limited (Morningstar DBRS) changed the trend on AtkinsRéalis to positive from stable and on March 20, 2024, ...Full story available on Benzinga.com
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