Business
Dollarama announces private offering of $300 million of series 3 floating rate senior unsecured notes
Dollarama announces private offering of $300 million of series 3 floating rate senior unse...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\nDollarama announces private offering of $300 million of series 3 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Jan. 25, 2018\n\n\n\n/Not for release over US newswire services or dissemination in the US/\n\n\n\nMONTREAL, Jan. 25, 2018 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") announced today that it has priced an offering of $300 million aggregate principal amount of series 3 floating rate senior unsecured notes due February 1, 2021 (the \"Notes\"). \n\nThe Notes are being offered through an agency syndicate consisting of RBC Capital Markets, CIBC Capital Markets and National Bank Financial Markets, as joint bookrunners and co-lead private placement agents, and including TD Securities Inc., Desjardins Securities Inc., Scotia Capital Inc. and Casgrain & Company Limited. The offering is expected to close on or about February 1, 2018, subject to customary closing conditions. \n\nThe Notes will be issued at par for aggregate gross proceeds of $300 million and will bear interest at a rate equal to the 3‑month bankers' acceptance rate (CDOR) plus 27 basis points (or 0.27%), to be set quarterly on the 1st day of February, May, August and November of each year. The interest rate for the initial quarterly period will be set on the expected closing date of February 1, 2018. Interest will be payable in cash quarterly, in arrears, over the three‑year term on the 1st day of February, May, August and November of each year, commencing May 1, 2018.\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 L...