Business
Dollarama Announces Private Offering of $500 Million Senior Unsecured Notes
Dollarama Announces Private Offering of $500 Million Senior Unsecured Notes Canada...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\nDollarama Announces Private Offering of $500 Million 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, Oct. 29, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, Oct. 29, 2018 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") announced today that it has priced an offering of $500,000,000 aggregate principal amount of 3.55% senior unsecured notes due November 6, 2023 (the \"Notes\").\nThe Notes are being offered through an agency syndicate consisting of CIBC Capital Markets, RBC Capital Markets and TD Securities Inc., as joint bookrunners and co-lead private placement agents, and including National Bank Financial Inc., Desjardins Securities Inc., Scotia Capital Inc. and Casgrain & Company Limited. The offering is expected to close on or about November 5, 2018, subject to customary closing conditions. \nThe Notes will be issued at a price of $995.37 per $1000.00 principal amount of Notes, for an effective yield of 3.652 % and aggregate gross proceeds of $497,685,000. Once issued, the Notes will bear interest at a fixed rate of 3.55% per annum, payable semi‑annually until maturity on the 6th day of May and November of each year, commencing on May 6, 2019. \nThe Corporation intends to use the net proceeds of the offering to repay the $400 million aggregate principal amount of its outstanding 3.095% senior unsecured notes due November 5, 2018, repay indebtedness outstanding under its revolving credit facility, and for general corporate purposes. \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 in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. \nThe No...