CALGARY,
AB, Aug. 12, 2024 /PRNewswire/ - Parkland
Corporation ("Parkland", "we", the "Company", or "our") (TSX: PKI)
announced today that it has priced its previously announced private
offering of US$500 million of senior
unsecured notes due 2032 at an issue price of par. The notes will
pay a fixed rate of interest of 6.625% per annum.
Parkland intends to use the net proceeds of the offering for the
repayment of a portion of the outstanding drawings under its credit
facilities.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any offer or sale of the notes in any state, or jurisdiction in
which such offer, solicitation, or sale would be unlawful.
The notes have not been registered under the Securities Act or
any state securities laws, and unless so registered, may not be
offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
be offered and sold only to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the U.S.
Securities Act of 1933, as amended (the "Securities Act") and may
be offered and sold outside the United
States pursuant to Regulation S under the Securities Act.
In addition, the notes have not been and will not be
qualified for distribution to the public under applicable Canadian
securities laws and, accordingly, any offer and sale of the notes
in Canada will be made on a basis
which is exempt from the prospectus requirements of such securities
laws. The notes will be offered and sold in Canada on a private placement basis only to
"accredited investors" pursuant to certain prospectus
exemptions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements based on current expectations, including the closing of
the offering and the use of proceeds from the offering if and when
closed. By their nature, forward-looking statements require us to
make assumptions and are subject to important known and unknown
risks and uncertainties, which may cause our actual results in
future periods to differ materially from those set forth in the
forward-looking statements.
Any forward-looking statements are made as of the date hereof
and Parkland does not undertake any obligation, except as required
under applicable law, to publicly update or revise such statements
to reflect new information, subsequent or otherwise. The
forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
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SOURCE Parkland Corporation