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Dollarama Announces Private Offering of $225 Million of Series 2 Floating Rate Senior Unsecured Notes
Dollarama Announces Private Offering of $225 Million of Series 2 Floating Rate Senior Unse...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\nDollarama Announces Private Offering of $225 Million of Series 2 Floating Rate Senior Unsecured Notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, March 9, 2017\n\n\n\n/Not for release over US newswire services or dissemination in the US/\n\n\n\nMONTREAL, March 9, 2017 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") announced today that it has priced an offering of $225 million aggregate principal amount of series 2 floating rate senior unsecured notes due March 16, 2020 (the \"Notes\"). \n\nThe Notes are being offered through an agency syndicate consisting of RBC Capital Markets and CIBC Capital Markets, as joint bookrunners and co-lead private placement agents, and including National Bank Financial Inc., TD Securities Inc., Desjardins Securities Inc., Scotia Capital Inc. and Casgrain & Company Limited. The offering is expected to close on or about March 16, 2017, subject to customary closing conditions. \n\nThe Notes will be issued at par for aggregate gross proceeds of $225 million and will bear interest at a rate equal to the 3‑month bankers' acceptance rate (CDOR) plus 59 basis points (or 0.59%), to be set quarterly on the 16th day of March, June, September and December of each year. The interest rate for the initial quarterly period will be set on the expected closing date of March 16, 2017. Interest will be payable in cash quarterly, in arrears, over the three‑year term on the 16th day of March, June, September and December of each year, commencing June 16, 2017.\n\nThe Corporation intends to use the net proceeds of the offering to repay indebtedness outstanding under its revolving credit facility and for general corporate purposes. \n\nThe Notes will be direct unsecured obligations of Dollarama and will rank pari passu with all other unsecured and unsubordinated indebtedness of Dollarama. The Notes have been assigned a provisional rating of BBB, with a stable trend, by DBRS Limited, and are being offered i...